Matrix profit up 275% at Rs 96 cr

BS 200 SCORECARD

Matrix Laboratories reported a rise of 275 per cent in net profit to Rs 95.83 crore (including exceptional items) for the quarter ended December 2005, as against Rs 25.55 crore in the corresponding period of the last year. Sales increased by 19.59 per cent at Rs 198.61 crore.

Net profit includes an amount of Rs 63.37 crore (net of taxes) arising out of certain exceptional items that include sale of know-how, intangibles and investments including the transfer of one of the manufacturing facilities to a joint venture. Excluding exceptional items, net profit grew by 27 per cent at Rs 32.46 crore.

The expenditure on R&D went up by 56.39 per cent at Rs 7.10 crore during the quarter. The company's paid-up capital has been increased to Rs 30.64 crore from Rs 29.94 crore on allotment of 35 lakh equity shares of Rs 2 each at a price of Rs 225 per share on preferential basis to the erstwhile promoters of Docpharma on December 29, 2005.

On a consolidated basis the company reported net profit of Rs 100.48 crore on sales of Rs 340.56 crore on a consolidated basis for the third quarter ended December 2005.

While the company recorded an operating profit of Rs 152.79 crore for the quarter, a total amount of Rs 52.31 crore has been provided for R&D, interest, depreciation, amortisation and tax on a consolidated basis.

The annualised earnings per share for the quarter stood at Rs 14.14 (without annualising the EPS in respect of exceptional items). Excluding exceptional items, the annualised EPS works out to be Rs 9.91.