Strides Arcolab, a global pharmaceutical company headquartered in Bangalore, has reported 30 times jump in consolidated net profit after minority interest at Rs 68.4 crore for the fourth quarter ended December 2011 compared to Rs 2.2 crore reported in the corresponding quarter previous year.
Its sales for the quarter were up by 50.6 per cent at Rs 686.4 crore compared to the same period a year ago.
The reason for a big jump in profits is mainly on account of a strong performance of injectables and pharmaceuticals business. The company received regulatory approvals for its products and plants during the year. During 2012, the company plans to enter the regulated markets of United States through its Brazilian subsidiary, Dr T S Rangan, Group CFO said.
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