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Shasun Pharmaceuticals’ standalone second quarter profits grew over five times (year on year) to Rs 13.07 crore (Rs 2.48 crore). Revenues rose 8 per cent to Rs 198 crore.
Standalone sales growth was driven by contract research manufacturing, while active pharmaceutical ingredients (API) business declined.
Shasun’s UK subsidiary, which turned profitable last year, clocked revenues of Rs 73 crore (Rs 64 crore) and profit after tax of Rs 4.86 crore (Rs 7.12 crore). The subsidiary has launched 28 products; the pre-launch pipeline is strong with 20 live projects spanning clinical phase 2 and 3, said the company in a release.
The company plans to invest Rs 200 crore this year to build capacity to support its turnover target of Rs 2,000 crore by 2015. (Last year, the company crossed the Rs 1,000-crore turnover milestone.)
Shasun is building an API plant in Visakhapatnam. The company is also setting up a plant in Naidupeta, Andhra Pradesh for backward integration.
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