Morepen Labs Q4 net profit jumps 3-fold at Rs 7.72 cr

Morepen Laboratories has reported a near three-fold jump in standalone net profit to Rs 7.72 crore for the fourth quarter ended March 31, 2017.
The company had posted a net profit of Rs 2.76 crore for the corresponding period of the previous fiscal, it said in a statement.
Standalone net revenue from operations stood at Rs 142.95 crore as against Rs 123.59 crore for the same period a year ago.
"Consistent focus on backward integration, research and process innovation has helped company garner better foothold in the market and company's vision to invest in the new markets is showing results on the expected lines," Morepen Laboratories Chairman and MD Sushil Suri said.

For the fiscal year ended March 31, 2017, the standalone net profit of the company rose to Rs 23.04 crore as against Rs 15.77 crore for the previous fiscal.
Standalone net revenue from operations for the fiscal year under consideration also rose to Rs 537.03 crore as against Rs 452.46 crore for the year-ago fiscal.