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Last Updated : Jul 30, 2019 09:43 PM IST | Source: Moneycontrol.com

RPG Life Sciences profit jumps four-fold led by domestic formulation biz growth

Sales of domestic formulation, the biggest contributor to the business grew by 27.5 percent.

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RPG Life Sciences, part of RPG Enterprises on July 30 said it had posted Rs 8.4 crore in the quarter ended June, a four-fold jump from the previous year.

The profit growth was led by an increase in the sales of domestic formulation and active pharmaceutical ingredients.

Revenues increased 18 percent to Rs. 94.04 crores in Q1FY20 Rs 79.89 crores posted last year.

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The earnings before interest, tax, depreciation and amortization (EBITDA) stood at 16.5 percent in Q1FY20.

"The overall performance of the company in the first quarter of this fiscal has been good," said Yugal Sikri, Managing Director, RPG Life Sciences

"Focus on prescription demand generation, sales force effectiveness, product portfolio augmentation, sales hygiene and opex control have contributed to the turnaround versus last year," Sikri added.

Sales of domestic formulation, the biggest contributor to the business grew by 27.5 percent.

RPG said it will continue to invest in domestic formulations that contribute three-fifths of sales by focusing on new prescribers and new indications for immuno-suppressant Azoran (Azathioprine) and continued product portfolio augmentation of biosimilars, filling and therapy gaps.

Shares of RPG rose 10.47 percent to close at Rs 206.80, while the benchmark Sensex dropped 0.77 percent to end 37,397.24 points.

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First Published on Jul 30, 2019 09:43 pm
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