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 Morepen Laboratories profit up by 125 pc at Rs 9.22 cr
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Morepen Laboratories profit up by 125 pc at Rs 9.22 cr

Agency News

New Delhi, May 6 : Morepen Laboratories Ltd has reported a steep 125 per cent rise in its net profit at Rs 9.22 crore and 31 per cent rise in its total revenue at Rs 207.1 crore in fourth quarter of 2018-19 owing to good growth in all business segments. The company’s net profit was at Rs 4.11 crore on a total revenue of Rs 158.34 crore in the corresponding quarter of previous fiscal.

The consolidated total revenue in Q4 in this fiscal went up by 28 per cent at Rs 219.74 crore while the export sales revenue in the quarter rose by 51 per cent at Rs 96.41 crore and domestic sales revenue by 13 per cent at Rs 118.84 crore. The Company had peak outstanding debt of Rs 750 crore with multiple banks in financial year 2005 which was restructured through CDR scheme of RBI in 2006 with an upfront payment of OTS amount of Rs 150 crore.

“All the Loans have been fully serviced from internal cash accruals and there is no outstanding loan dues as on March 31, 2019. The Company has cleared all its outstanding debt in the books to become a debt free entity in fiscal 2018-19,” Sushil Suri, Chairman and Managing Director of Morepen Laboratories Ltd said after the Q4 and FY 2018-19 results’ board meeting here. Consolidated Cash Profit in Q4 FY 2018-19 was up by 27 per cent at Rs. 21.85 crore. Consolidated Profit Before Tax (PBT) recorded extraordinary growth by 58 per cent at Rs 10.7 crore, up from Rs 6.78 crore in the corresponding quarter of previous fiscal. Consolidated net profit also recorded growth of 54 per cent at Rs 10.49 crore during the period. (UNI)