Arvind Remedies Q1 net profit rises 76%
Drugmaker Arvind Remedies (ARL) today said its net profit for the first quarter ended June 30 stood at Rs 16 crore, posting a growth of 76 percent over Rs 9 crore in same period of the last year.
August 08, 2013 / 20:11 IST
Drugmaker Arvind Remedies (ARL) today said its net profit for the first quarter ended June 30 stood at Rs 16 crore, posting a growth of 76 per cent over Rs 9 crore in same period of the last year.
Net sales stood at Rs 183 crore, up 31 percent over Rs 140 crore in Q1FY13, the company, a producer of branded and generic pharmaceutical products, said in a statement here. Commenting on the Q1 results, Arvind B Shah, Managing Director and Chief Executive Officer of the company, said, "During the quarter, our focus was on the branded products in the domestic market and in selecting the products to file as ANDA (abbreviated new drug application) for the US market." "We have set up a subsidiary in New Jersey, Arvind Remedies USA LLC, which will market our drugs in America and also enable us to tap the contract manufacturing customers in the US," he added. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
