The Mumbai-based Rs 500-crore Elder Pharmaceuticals today announced its unaudited financial results for the third quarter ended 31 December 2007.

Review of quarterly financial performance

Elder Pharmaceuticals has reported a robust quarter-on-quarter revenue expansion with total income increase of 23.07 crore from Rs 115.69 crore in the preceding quarter to Rs 138.78 crore for the quarter under review. EBIDTA for the quarter under review was Rs 30.68 crore, implying an EBITDA margin of 22%. PAT stood at Rs 19.04 crore, up 4.48 crore from the preceding quarter.

Commenting on the results, Mr. Alok Saxena, Director (International), Elder Pharmaceuticals said, “We are very pleased to report an encouraging performance in our key geographies. During the quarter we were able to simultaneously grow our existing business as well as add new ones.

He added, “We are making continued efforts to better our margins and increase our profitability in order to maximise shareholder value.”

Operating Highlights of the quarter under review

Elder Pharmaceuticals recently signed an in-licensing agreement with GNOSIS S.p.A, Italy. Under the terms of the agreement, GNOSIS has licensed an anti-osteoarthritic nutritional supplement S-Adenosyl Methionine (SAMe), and will supply the product in finished form to be marketed in India by Elder Pharma under the trademark SAMPURE.

Elder Pharmaceuticals has been named in the most recent Forbes list of ‘Asia’s 200 Best under a billion’ having been honoured in this list for its consistent profitability and growth over a period of three years.

Sourced From: Corporate Voice|Weber Shandwick

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