Ind-Swift Lab FY11 profit up 51% on robust overseas revenue

Moneycontrol Bureau

Ind-Swift Laboratories full-year (April-March) net profit jumped 51% to Rs 87.62 crore on back of robust revenues from US and Europe and successful accredition of the company's manufacturing facilities by the Japanese and Korean regulatory authorities, the company said in a press release Thursday. Net sales for the full-year rose 30.49% to Rs 1,031.21 crore from Rs 790.52 crore a year ago boosted by strong revenues from overseas market, the company said. Export grew 32% to Rs 416 crore from Rs 316 crore a year ago. "The company's focus on exports to regulated and semi-regulated markets of US, Japan and Europe has also resulted in adding to the growth momentum," said vice chairman and managing director, NR Munjal. Ind-Swift Laboratories has recommended a 10% dividend per shares. At 10:50 hrs, shares of Ind-Swift Laboratories were trading flat at Rs 93.35 on the Bombay Stock Exchange.