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Wednesday, Jul 26, 2006

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Corporate Results - Pharmaceuticals
Elder Pharma net up 87 pc

Our Bureau

Mumbai , July 25

The Rs 380-crore Elder Pharmaceuticals Ltd has posted an 87-per-cent growth in net profit at Rs 13.11 crore for the three-month period ended June 30, as compared to Rs 7.02 crore in the corresponding period last year.

The income from operations has increased to Rs 108.4 crore (Rs 90.64 crore).

Elder's new plant at Selaquie in Uttaranchal has already commenced commercial production and two more plants at Uttaranchal and in Himachal Pradesh are nearing completion, a note from the company said. Elder is negotiating with European companies for in-licensing and contract-manufacturing alliances, the note added.

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