Strides Arcolab has reported 30 fold rise in consolidated net profit after minority interest at Rs 68.4 crore for the fourth quarter ended December 2011 compared to Rs 2.2 crore reported in the corresponding quarter previous year. The company’s sales for the quarter were up by 50.60% at Rs 686.4 crore compared to the same period a year ago.
The reason for a big jump in profits is mainly on account of a strong performance of injectables and pharmaceuticals business.
The company has recommended dividend at Rs 2.00 per share for the year ended December 31, 2011.
Strides Arcolab is a global pharmaceuticals headquartered in Bangalore, India that develops and manufactures a wide range of IP-led niche pharmaceuticals products with an emphasis on sterlite injectables.
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