Stock Report

Venus Remedies Ltd Quarterly Net Profit at Rs.8.73 Crores

Posted On : 2007-07-23 06:38:20( TIMEZONE : IST )

Venus Remedies Ltd has announced the UnAudited Financial Results for the quarter ended June 30, 2007.

The Company has posted a profit after taxes of Rs.87.39 million for the quarter ended June 30, 2007 where as the same was at Rs.61.83 million for the quarter ended June 30, 2006. Total Income is Rs.437.52 million for the quarter ended June 30, 2007 where as the same was at Rs.321.22 million for the quarter ended June 30, 2006.

The company reported an Earnings Per Share (EPS) of Rs.10.37 for Quarter ended June 30, 2007 compared to Rs.7.35 reported during Quarter ended June 30, 2006.

During this Quarter,

a) The Phase III of the Baddi Project of the Company, consisting of 2 dedicated plants, one for Liquid injectible filling in glass Vials and second for Injections in Ampoule form, was inaugurated.

b) The company successfully completed the filing of Patent Applications in 49 countries around the globe, including the US, EU, Brazil, Japan, CIS and Middle East, for the National Phase of its first PCT application for its Research Product, "Non-Aqueous, Liquid Parenteral Formulation".

c) The Company successfully filed for Patent in 48 countries world wide, for the National Phase of its second PCT application for its Research Product, "Fixed Dose Combination of Latest Generation Cephalosporin with a Beta-Lactamase".

d) The Company cleared yet another Plant Inspection by the National Drug Authority of Uganda and was accredited with the Uganda GMP certification, a prequalification for entering the Uganda market.

e) The Company successfully executed its bulk Export orders to Sri Lanka, Ukraine and Germany.

f) The Domestic Operations of the Company were further extended to 4 South Indian territories of Kerala, Tamil Nadu, Andhra Pradesh and Pondicherry with more than 80 new Head Quarters put into operations. The Company’s own field force of more than 300 personnel is now fast penetrating markets across 18 prominent states of India.

g) The Company was awarded the "Emerging India Awards-2007" in Chemical and Pharmaceutical segment of Indian Industry after being rated by CRISIL as the leader in SME sector for Excellence and Exemplary growth.

The stock was trading at Rs.489.90, up by Rs.0.45 or 0.09%. The stock hit an intraday high of Rs.507 and low of Rs.476. The total traded quantity was 14652 compared to 2 week average of 13265.