Morepen Labs Q2 net profit jumps over 6-fold to Rs 27cr

The company had posted a net profit of Rs 4.08 crore for the corresponding period of the previous fiscal, Morepen Labs said in a BSE filing. Total revenue stood at Rs 340.12 crore for the quarter under consideration.

New Delhi, Nov 9 (PTI) Drug firm Dr Morepen Laboratories on Monday reported an over six-fold jump in its consolidated net profit to Rs 27.16 crore for the quarter ended September, on account of robust sales. The company had posted a net profit of Rs 4.08 crore for the corresponding period of the previous fiscal, Morepen Labs said in a BSE filing.

Total revenue stood at Rs 340.12 crore for the quarter under consideration. It was Rs 216.24 crore for the same period a year ago, it added. "Company is investing heavily to build strong pipeline of products to be launched in three to four years. This investment would go both in R&D and in building new product blocks to create extra production capacities," Morepen Laboratories Chairman and MD Sushil Suri said.

The focus of the company continues to remain on the chronic and lifestyle diseases, he added. Shares of Morepen Laboratories settled at Rs 29.65 per scrip on BSE, up 7.82 per cent over previous close.