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Strides Arcolab, Tata Metaliks & Nucleus Soft Q4 results

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BS Reporter Mumbai

Strides Arcolab's regional focus and partnerships in new regions have paid off. The company has posted higher profits of Rs 54.14 crore for the first quarter (Q1) of 2008 as against Rs 6.90 crore in the corresponding quarter of previous year. Total income jumped 63.59 per cent to Rs 278.15 crore (Rs 170.02 crore).

 

The company has made a provision of Rs 8.90 crore for derivative losses. "In addition, there are deals where trigger for loss, if any, is to be determined in November 2009 and June/July 2010. The company does not believe that this would result in a loss and hence MTM (mark-to-market) provision of Rs 29.35 crore as on March 31, 2008, has not been made," said the company said in a release.

Strides during the the first quarter has initiated a global oncology facility (a joint venture with Aspen) which is expected to be ready by year end.

A plant at Nigeria for orals and semi-solids has been approved by local authorities and commenced operations. The Penems plant at Brazil has obtained regulatory approval and USFDA has approved the penicillin facility at Bangalore.

The company has entered into a transaction involving Genepharm Australasia, Australia's fourth largest generic company. On completion of the transaction, Strides would have achieved 50.02 per cent ownership in the company in the first phase and will increase to 55 per cent on final closing.

Promoters' holdings have increased from 18 per cent (of the previous capital base) to 22.50 per cent of the expanded capital base.

Tata Metaliks net jumps 67%

Tata Metaliks has registered a net profit of Rs 25.5 crore in the quarter ended March 31, 2008, up 67 per cent compared with the corresponding period last year on the back of higher production. Net sales during the quarter stood at Rs 311.7 crore, an increase of 49.63 per cent over the same period last year.

Turnover for the year stood at Rs 1,185.47 crore, an increase of 51.64 per cent. Profit after tax was at Rs 69.62 crore, up by 136 per cent.

Tata Metaliks achieved an annual production of 545,501 tonnes of hot metal and the total despatch of pig iron for the year was 516,044 tonne, an increase of 24 per cent and 16 per cent, respectively.

The board has recommended a dividend of 70 per cent.

Nucleus Soft Q4 net up 14.8%

Nucleus Software reported consolidated net profit for the fourth quarter ended March 31, 2008, at Rs 16.01 crore was up 14.8 per cent from Rs 13.94 registered for the corresponding quarter last fiscal. Revenues grew 29.7 per cent at Rs 78.06 crore (Rs 60.15 crore).

For the full year ended March 31, 2008, the company's net profit was Rs 61.74 crore, an increase of 11.96 per cent from Rs 55.14 crore last fiscal.

Revenues for the quarter went up by 30.53 per cent at Rs 288.72 crore (Rs 221.18 crore).

Sequentially, the net profit of the company increased 3 per cent from Rs 15.53 crore and revenues ware up 6 per cent.

Vishnu R Dusad, CEO and MD, said, "Our vision, mission and focus to invest in IPR-led growth continue to create an excellent value proposition for our customers. Our product led strategy is giving consistent results with 24 significant product wins in FY08."

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First Published: Apr 29 2008 | 12:00 AM IST

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