Drug maker RPG Life Sciences, part of industrial conglomerate RPG group, on January 31 reported a 49 percent year-on-year jump in net profit to Rs 8 crore in the third quarter ended December 31, aided by domestic business growth.
The company posted a net profit of Rs 5.3 crore in the same period of the previous year. Revenues rose 4 percent on YoY basis to Rs 94.41 crore in Q3FY20.
The earnings before interest, tax, depreciation and ammortisation (EBITDA) margins improved from 13.3 percent to 15.8 percent.
Domestic business constitutes about two-thirds of company's revenues grew at 23 percent, and international sales that constitute the rest grew by 26 percent.
"Q3 results are consistent with those of Q1 and Q2 both on revenue and profit fronts," Yugal Sikri, Managing Director, RPG Life Sciences.
"The turn-around performance is largely driven by the biggest contributing domestic business, which grew over 23 percent. Focus has been on prescription generation, product portfolio rejuvenation, sales force effectiveness enhancement with strict vigil on sales hygiene," Sikri said.
RPG Life Sciences is focusing on chronic segments like cardiovascular, diabetes, nephrology and biosimilars to drive growth in the domestic market.Shares of RPG Life Sciences dropped 3.59 percent to close at Rs 312.45 on BSE, the benchmark Sensex declined 0.47 percent to end 40,723.49 points.