Matrix net dips 69% on lower sales

Matrix Laboratories saw a steep fall of 69 per cent in net profit to Rs 9.6 crore for the quarter ended September 2006 compared with Rs 30.65 crore in the corresponding quarter last year.

The company's net sales, too, dipped 18 per cent to Rs 142.5 crore, from Rs 174.37 crore in the same period last year. Its paid-up equity capital (face value of Rs 2 each) stood at Rs 30.79 crore against Rs 29.94 crore in the previous corresponding quarter.

On a consolidated basis, Matrix posted a net profit of Rs 15.85 crore on net sales of Rs 373.17 crore against Rs 43.69 crore on sales of Rs 291.6 crore in the corresponding quarter of 2005-06.

Matrix's basic earnings per share on September 30, 2006 was Rs 6.46 (annualised) on a paid-up equity capital of Rs 30.7 crore (face value of Rs 2 a share).