Morepen Labs Q3 net dives 41%

Morepen Laboratories has posted 41 per cent drop in profit during the third quarter ended December 31, 2016, at ₹4.27 crore from ₹7.28 crore during the same quarter of the previous fiscal, despite a 23 per cent increase in net sales at ₹134.05 crore during the quarter. The company saw encouraging growth in sales from the domestic operations, which registered a growth of 43 per cent at ₹79.52 crore in the third quarter.