Strides Arcolab Q1 net jumps over 12-fold to Rs 26.79 crore

Company's net sales for the April-June quarter this fiscal increased to Rs 187.95 crore

Drug maker Strides Arcolab today reported over 12-fold jump in standalone net profit to Rs 26.79 crore for the quarter ended June 30 on improved margins across all segments.

The company had reported a standalone net profit of Rs 2.15 crore in the corresponding period of last fiscal, Strides Arcolab said in a filing to the BSE.

The company's net sales for the April-June quarter this fiscal also increased to Rs 187.95 crore as against Rs 150.83 crore during the same period last fiscal.

"We had a very consistent performance over the last few quarters, with improved margins across all segments. With the flow of product approvals from USFDA and acceleration of branded generics through acquisition of 'Raricap', we see significant transaction in the business," said Strides Arcolab Founder and Group CEO Arun Kumar.

The Bangalore-based firm earned Rs 109 crore during the quarter which accounts for 42 per cent from regulated markets.

Strides Arcolab has also generated 28 per cent and 30 per cent of its revenue from institutional businesses and emerging markets which stands at Rs 73 crore and Rs 78 crore, respectively.

Shares of the company were trading 0.50 per cent up at Rs 672.30 apiece during afternoon trade on the BSE.