Matrix net dips to 25.29 crore

BS 200 SCORECARD

Matrix Laboratories Limited reported a net profit of Rs 25.29 crore on a sales turnover of Rs 154.33 crore for the quarter ended 30 June, 2005 as compared to a net profit of Rs 40.7 crore reported in the corresponding previous quarter.

Profit before R&D and depreciation for the quarter stood at Rs 40.13 crore. R&D expenditure (revenue and capex) for the quarter went up by 132 per cent at Rs 16.65 crore as compared to Rs 7.16 crore in the same quarter of the last financial year.

Profit before tax stood at Rs 28.3 crore during the quarter as compared to Rs 44.7 crore for the corresponding first quarter in 2004-05.

Net sales for the quarter increased marginally despite the loss of production at one of the units, the company said in a press release.

The annualised earnings per share on the post-bonus paid-up capital of Rs 29.94 crore with a face value of Rs 2 per share stood at Rs 6.76.

A special purpose vehicle (SPV), namely Matrix Laboratories NV Belgium, was formed for the acquisition of Docpharma NV, Belgium, the company's press release said.

It said that subsequent to the acquisition of 22 per cent controlling stake in Docpharma, the SPV has filed draft prospectus with the Banking Finance and Insurance Commission of Belgium for its approval.