The Bangalore-based pharma company Strides Arcolab announced its net profit is up 39 per cent to Rs 70 crore for its second quarter ended 30 June 2011, against Rs 50 crore in the same quarter of previous year. The drug firm's consolidated revenue grew up by 28 per cent to Rs 618 crore. Strides Chairman & Group CEO, Arun Kumar said, “I am extremely pleased with our Q2-11 performance, which is ahead of our guidance run rate with continued momentum driven by scaled business performance in all verticals.
With the US FDA approvals for the Steriles and Oncology plant in place, we will continue our focus on more product launches in key markets.” The firm's pharma wing saw a revenue growth of a good 51 per cent from Rs 263 crore to Rs 398 crore. Whereas specialities saw a marginal surge of Rs 1 crore.
