Drug firm Claris Lifesciences today reported a 14.3 per cent increase in its consolidated net profit at Rs 22 crore for the first quarter ended June 2016.
The company has reported a net profit of Rs 19.2 crore in April-June a year ago, Claris said in a BSE filing.
Claris total income from operations on consolidated basis was up 6.8 per cent at Rs 199.8 crore during the quarter under review as against Rs 187.1 crore in the previous fiscal.
The stock of the Ahmedabad-based company today settled at Rs 281.30 on BSE, up 0.63 per cent from its previous close.
(REOPEN DCM62)
The company in a statement said that incremental
sales in US continues to drive the growth in SIB business with improved margins.
The company's sales in the US has grown by 106 per cent to Rs 103 crore, which is in line with the company's long term strategic focus on regulated market, it added.
"Sales has increased due to increase in market share of existing products. The emerging market sales reduced due to certain regional economic issues. However it is partially compensated with increase in sales in Brazil," the release said.
