* Alliances, Acquisitions and higher Domestic demand add to the company's topline.
* Successful fund raising of Rs 69.70 Cr through Qualified Institutional Placement (QIP) route.
Online PR News – 13-November-2010 – – Mumbai, India, November 13, 2010 -- Elder Pharmaceuticals Ltd (NSE- ELDERPHARM) an integrated pharmaceuticals company ( http://www.elderindia.com ) headquartered in Mumbai has posted excellent results for the second quarter ended Sep 2010 (Q2 FY2011). As per the consolidated unaudited provisional results taken on record on November 12, 2010, the income from operations has gone up to Rs 210.65 Crore for Q2 FY2011 as compared to Rs. 174.95 Crore during the corresponding quarter in the previous year. The consolidated operating profit (PBIDT) too has gone up to Rs 41.89 Crore for Q2 FY2011 reflecting a growth of 43% over the previous corresponding quarter's figure of Rs 29.37 Crore. The consolidated Net Profit too has gone up to Rs 13.68 Crore (previous year's quarter - Rs 9.30 Crore) - a spurt of 47%. The consolidated EPS on a non - annualized basis comes to Rs 7.20.
For the half year ended Sept 2010, the consolidated sales turnover is Rs 404.95 Cr (previous half year - Rs 344.92 Cr) up by 17% and the net profit is Rs 30.36 Cr (previous half year - Rs 18.90 Cr) up by 61%.
During the quarter under review, Elder ( http://www.elderindia.com ) successfully raised funds to the tune of Rs 69.70 Crore through the Qualified Institutional Placement (QIP) route. The company also hiked stake in its Bulgarian subsidiary 'Biomeda' to 92.2%. The various international alliances of the company, commissioning of Langa Road facility, launch of new products, penetration into Rural & Semi-Urban markets and strong growth in the traditional products have contributed to the company's better working.
Elder Pharmaceuticals ( http://www.elderindia.com ) has presence in niche therapeutic segments like Women's healthcare, Wound care, Nutraceuticals /vitamin Supplements, Cardiology, Diabetes, Dermatology, Antibiotics and neurology. It is the market leader in calcium supplements (Shelcal), wound healing and injectable B12 vitamin. The company has a judicious mix of drug formulations, and active pharma ingredients (APIs). It has 6 manufacturing plants in India located in Maharashtra, Uttarakhand & Himachal Pradesh. The company has a state-of-the-art Research & Development Centre at Navi Mumbai which is recognized by the Department of Scientific & Industrial Research, Ministry of Science & Technology. (http://www.elderindia.com).
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