Morepen Laboratories announces 107% Increase in Net Profit

A growth of 53 per cent in Morepen’s Home Healthcare business indicates a strong growth in the segment in near future; the company’s Self-Help brand Dr Morepen is showing considerable growth across all product segments.

Indian pharma and wellness company Morepen Laboratories Ltd has announced a net profit of 9.67 crore in the quarter ending on December 31 — a growth of 107 per cent as compared to the corresponding period of the last fiscal.

The Q3 FY 2017-18 financial results were announced after a meeting of the company’s board of directors on Monday, a statement from Morepen said.

According to a BSE filing, the comoany’s domestic sales were up by 24.8 per cent at Rs 103.27 crore in Q3 FY 2017-18, while exports remained low at Rs 36.58 crore.

Morepen was succeful in controlling its interest cost in Q3 2017-18, which amounted to just Rs 90 lakhs — a fall of 60 per cent compared to the corresponding period of the last fiscal.

In the bulk drugs category, anti-asthma drug Montelukast and anti-cholesterol drug Atorvastatin registered highest growth of 25 per cent and 23 per cent respectively for the company. It helped the company to bring stability in the overall sales in API segment, which remained at around 80 crore in the quarter under review.

Morepen’s Home Healthcare business did extremely well registering an overall growth rate of 53 per cent. However, the companies Formulations business saw a revenue drop of 5 per cent, vis a vis the corresponding period of previous fiscal.

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