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India Earnings - Strides Arcolab | Profit on Sheet

By Abhishek on 10:45 AM

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Strides Arcolab : A global pharmaceutical company, swung to profit on consolidated basis for the third quarter ended September 2008. During the quarter, the profit of the company rose to Rs 1,054 million as compared to loss of Rs 90 million in the same quarter, previous year.

Consolidated total income for the quarter climbed 32% to Rs 2,818 million compared with the prior year period of Rs 2,142 million.

The company on a consolidated basis reported earnings of Rs 25.51 a share, during the September 2008 quarter as against a loss of Rs 2.83 a share during the prior year period.

Commenting on the company`s performance, Arun Kumar, group chief executive officer said, ``We are pleased to have achieved a growth of 32% in revenue and 128% of Operational EBITDA. This reflects our continued focus on execution excellence. We are delighted to see successful transition of our new organization design which was announced in March 2008 and successful integration of Ascent Pharmahealth. We are extremely excited about our future-ready initiatives which we have embarked as part of our Strategy to achieve scalability of our business model.``

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