RPG Life Sciences reports 52% decline in net profit for March quarter

RPG Group's arm RPG Life Sciences on Friday reported a 52% plunge in net profit at Rs 2.25 crore for the March quarter against Rs 4.67 crore a year ago, despite a halving of its finance cost.

The company also reported a 4.4% drop in income at Rs 68.8 crore from Rs 72.02 crore a year ago.

RPG Life Sciences, which is into manufacturing and marketing of pharmaceutical products, did not attribute any reasons for the plunge in net income as well as sales.

For the full year, however, the company reported an over 11-fold spike in net income at Rs 11.62 crore as against Rs 1 crore a year ago, while the company's sales rose 18% to Rs 274.54 crore from Rs 233.08 crore as its margins jumped by 250 basis points to 8.6%, the company said in a statement.

Managing Director C T Renganathan said the full-year numbers were driven by robust growth in domestic formulations and international business.

The company's focused brands like Minmin and Tricaine have grown by 62% during the year.