Poly Medicure Ltd posts 38% jump in net profit

782 Investors following Poly Medicure. Share this News with them.

0

Like this story, share it with millions of investors on M3

Poly Medicure Ltd posts 38% jump in net profit

Poly Medicure Limited posts 38% jump in net profit

Post your opinion here

 

0

Tweet

Share on Tumblr

RELATED NEWS Poly Medicure Ltd posts 38% jump in net profit Poly Medicure Ltd net profit zoomed by 50% in 1st quarter ALSO READ See latest News about Poly Medicure See previous management interviews See what other Experts & Brokerages are saying about Poly Medicure Poly Medicure BSE | NSE 25/05/12 Are Mutual Funds betting on Poly Medicure?

Poly Medicure Limited, the leading manufacturers of medical devices and disposables under the brand name, Polymed, has announced its quarterly results for quarter ending September 2006. In its board meeting, the company reported the net sales during the quarter at Rs. 20.11 crores from Rs. 16.95 crores in corresponding quarter previous year showing an increase of 18.6%. Polymed also posted an increase of approx. 38% in its Profit After Tax (PAT) for the half year ending September 30. Net sales have gone up at Rs. 41 crores compared to Rs. 33 crores in the last half year ending 30 ^th September 2005.

During the same period, Profit After Tax has also zoomed to Rs. 2.01 crores, which is approx. 28% higher than the PAT of Rs. 1.59 crores registered last year. The Earning per share (EPS) of the company as on 30th September 2006 was Rs. 3.72 per share as against Rs. 2.96 per share on 30th September 2005.

Riding high on the increase in exports, Polymed is scouting for acquisitions in Europe to get a strong foothold in the International and European market. Buoyed by the overwhelming response from the export market, Polymed is also expanding its present capacity of 130 million to 180 million with approx. capital expenditure of 25 crores. The company has also applied for 8 Patents & 2 USFDA Approvals for its new range of Safety Syringes and Safety Blood Collection Holders.

Contd. on pag 2 .......