RPG Life Sciences March quarter net plunges 52%

RPG Group's arm RPG Life Sciences on Saturday reported a 52% plunge in net profit at Rs 2.25 crore for the March quarter against Rs 4.67 crore a year ago, despite halving of its finance cost.

The company also reported a 4.4% drop in income at Rs 68.8 crore, from Rs 72.02 crore a year ago.

RPG Life Sciences, which is into manufacturing and marketing of pharmaceutical products, did not attribute any reasons for the plunge in net income as well as sales.

For the full year, however, the company reported an over 11-fold spike in net income at Rs 11.62 crore against Rs 1 crore a year ago, while sales rose 18% to Rs 274.54 crore, from Rs 233.08 crore, as its margins jumped by 250 bps to 8.6%, the company said in a statement.

Managing Director C T Renganathan said that full year numbers were driven by robust growth in domestic formulations and international business.

Focused brands like Minmin and Traicaine have grown by 62% during the year.