At a time when major companies are facing pressure on their balance sheets due to the economic slowdown, Gujarat-based pharmaceutical firms have registered a robust growth and seen substantial rise in net profit in the financial year 2008-09.
Top drugmakers like Torrent Pharma, Zydus Cadila and Dishman Pharma have seen growth in domestic as well as international sales, and rise in profits.
"Despite recession in western markets, pharma companies here have seen jump in their exports, which is a positive sign," said Sunil Parekh, a pharma industry expert who is also advisor to some firms in the state.
Zydus Cadila has posted a net profit of Rs 303 crore, up 18 per cent year-on-year. The company has clocked a total income of Rs 2,948 crore, up 26 per cent from Rs 2,333 crore in the same period last year on a consolidated basis.
Torrent Pharma's profit has gone up by 36 per cent and sales by 21 per cent, from Rs 1,336 crore to Rs 1,617 crore, in the last fiscal. In its exports segment, Torrent has witnessed 38 per cent growth and its sales outside India stood higher at Rs 823 crore.
