Shasun Q2 net at Rs 10.16 cr

Shasun Pharmaceuticals has posted a consolidated net profit of Rs 10.16 crore during the second quarter ended September 2011, up from Rs 0.21 crore in the corresponding period last year. Triggered by growth of API products sales, the company's consolidated net sales increased 15 per cent to Rs 244.50 crore (Rs.212.70 crore). The company has reported Rs 25.35 crore as tax benefits during the period as against nil last year same period, which has pushed up net profit. Shasun's UK subsidiary posted a turnover of Rs 65.51 crore in Q2 with PAT of Rs 7.12 crore compared to turnover of Rs 70.50 crore and profit of Rs 6.52 crore in Q1 FY11. “The company has posted improved results in Q2 FY12, due to growth of API products sales,” said Mr S. Abhaya Kumar, Managing Director. The launched products portfolio has grown to 28. The pre-launch pipeline remains strong with 19 live projects spanning clinical phase II and III, said Mr Kumar. The formulation plant (in Puducherry) capacity expansion was completed in September 2011.