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TAKE Solutions posts Q4 consolidated NP at Rs 27.06 crore

Press Trust of India  |  Chennai 

Life sciences provider TAKE Solutions Thursday recorded consolidated net profit at Rs 27.06 crore for the fourth quarter ending March 2019, compared to Rs 45.49 crore registered year ago.

For the year ending March 31, 2019, the city-headquartered firm's net profit went upto Rs 178.39 crore from Rs 159.86 crore recorded year ago.

Total revenue for the January-March 2019 quarter went upto Rs 535.88 crore from Rs 456.79 crore.

For fiscal 2018-19, total revenue surged to Rs 2,049.74 crore against Rs 1,593.65 crore registered year ago.

The company also announced the acquisition of KAI Research, full service health research company.

"Through this acquisition, TAKE builds Phase II and Phase III capabilities in adding to its current service offerings in and Asia," a company release said.

On the financial performance, company Vice-Chairman and Managing Director (HR), Srinivasan said TAKE recorded a positive growth rate this year to 28.5 per cent with continued strong performance in the life sciences business.

"We will continue to invest ahead of the growth curve to position us as the most preferred business partner for global pharmaceuticals," he said.

On the acquisition of KAI Research, he said it would further strengthen the company's capabilities in clincial services and expand its therapeutic expertise."

"Through this acquisition, we also gain a unique standpoint in serving agencies like FDA, NIMH, Department of Defence..," he said.

The Board of Directors has recommended a final dividend of 40 per cent (Rs 0.40 per equity share of value Rs one each), subject to the approval of shareholders.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, May 16 2019. 18:01 IST