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Drug firm Strides Arcolab today posted a net profit of Rs 31.57 crore for the first quarter ended March 31, 2012.
The company had posted a net loss of Rs 28.15 crore in the same period of previous year.
Net sales of the company rose to Rs 161.34 crore for the first quarter, as against Rs 120.42 crore in the same period of last year, Strides Arcolab said in a statement.
The company follows January-December fiscal.
Commenting on the results, Strides Arcolab Group CEO and Vice Chairman Arun Kumar said: "Year 2013 has started on a promising note and we continue to be upbeat about our pharma business which is currently tracking ahead of guidance."
The Bangalore-based firm said its pharma revenues grew by 47 per cent to Rs 235 crore on a consolidated basis in first quarter, as against Rs 160 crore in the same period of 2012.
Shares of Strides Arcolab were trading at Rs 830.50on the BSE in late afternoon trade, up 1.12 per cent from its previous close.
