Ind-Swift Labs net up 25% in FY 2002-03, 50% in last quarter

New Delhi: Buoyed by rising exports, Ind-Swift Laboratories has registered a 25-per cent increase in its net profit at Rs 5.32 crore as against Rs 4.39 crore in the previous financial year. The net profit for the last quarter, however, rose by 50 per cent.

Revenues from operations increased by 28.59 per cent to Rs 145.53 crore over the previous year's Rs 113.17 crore. Despite the increase in debts by Rs 11.05 crore, the company was able to control the financial cost at Rs 6.76 crore from the previous year's Rs 6.18 crore.

The improved revenues from the regulated markets resulted in higher export earnings. During the year export income went up by 24 per cent to Rs 42.39 crore.

The last quarter also saw the material consumption ratio coming down to 70 per cent as compared to 74 per cent during FY 2002-03. Spending on research and development increased to Rs 4.58 crore. Earnings per share stood at Rs 4.78 (Rs 4.23).

The company recently completed the expansion of its capacities in macrolide antibiotics by over 50 per cent and thereby achieved a leadership status in advanced macrolides. Introduction of new products, improvements in its distribution network and focussed marketing efforts in regulated and soft-regulated markets resulted in the company's improved performance during the year.

Due to the company's increased penetration in the regulated markets, it expects to increase the topline by 100 per cent and bottomline by 150 per cent in the next three years.