Pharma majors display steady growth in Q4

Interestingly, joining the domestic pharma majors are some of the MNCs as well which had shown lacklustre performance in the recent past. MNCs like Glaxo Smithkline, E Merck and Pfizer have reported growth in bottomline of over 35 per cent in the quarter ended March 2002.

But some MNCs still continue to show suffer: German Remedies, Aventis Pharma have reported a drop in net profit.

The stock market, however, does not seem to be too enthused with the better numbers reported by the pharma companies with stocks continuing to languish. Leading the pack in financial performance is Dr Reddy’s Laboratories, which has reported a 212 per cent surge in net profit for the year ended March 2002 on the back of better performance in the export market.

Ranbaxy Laboratories reported a 70.4 per cent rise in net profit to Rs 94.9 per cent for the first quarter ended March 2002 on the back of a 39.7 per cent jump in exports.

Glenmark Pharmaceutical Ltd has reported 118 per cent rise in net sales at Rs 86.8 crore for the fourth quarter ended March 31, 2002.

E Merck has reported an improvement in operating margin to 17.8 per cent during the first quarter ended March 2002 from 15.1 per cent last year. Pfizer India reported a decent growth in profit margins.

Wockhardt (year-end December) has reported encouraging results for first quarter with a sales growth of 27 per cent and has maintained the operating margins. On the back of 46 per cent lower interest outgo following reduction in debt, profit after tax grew by 37 per cent.