Strides Arcolab registers 32% increase in revenue in Q3 FY06

- Revenues at Rs. 1,826 million; EBITDA at Rs.332 million; PAT at Rs.116 milliion

Bangalore, India, October 27, 2006: Strides Arcolab Ltd (NSE:STAR, BSE:532531) today announced its unaudited financial results for the third quarter ended September 30, 2006.

Key Revenue Highlights

• Consolidated sales increased at Rs.1826 million; 32% over corresponding year Q3FY05 at Rs.1387 million and 9% on a sequential quarter basis.
  
  This is the highest revenue base the company has achieved in any quarter.
  
  
• EBITDA margins at 18.18% moved from 13.21% in the previous quarter.
• On a positive note the Mexican operations turned around smartly in the quarter consequent to launch of its first generic approval for Pravastatin - a cholesterol lowering drug.

Commenting on the results, Arun Kumar, Vice Chairman and Group CEO of Strides Arcolab, said "the financial performance for Q3 FY06 shows a significant upswing in our core businesses while challenges identified in the earlier guidance are being addressed.

The capacity constraints have since been addressed and the company has geared up significantly to meet increasing demand from its Oral dosage form facilities.

Source : Equity Bulls

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