Mumbai, June 27: RPG Life Sciences has registered a 140.54 per cent jump in net profit at Rs 8.93 crore for the year ended March 31, 2000 as against Rs 3.71 crore in the previous year. Sales, however, slumped to Rs 203.74 crore from Rs 240.56 crore in the previous year.The company said that the decline in turnover is on account of the planned reduction in low margin agrochemical products. Other income for the year increased to Rs 14.55 crore as against Rs 10.26 crore in the previous year.
Other income and other expenditure include an amount of Rs 4.50 crore and Rs 72 lakh respectively which are of non-recurring nature.
During the year, the company has allotted 15,17,153 equity shares of Rs 10 each at a premium of Rs 15 per share against applications received from warrant holders in exercise of their right attached to the warrants issued along with secured redeemable non-convertible debentures issued.
Interest and depreciation were higher at Rs 19.75 crore and Rs 7.03 crore respectively. The company says that it is focusing on newer areas in fermentation and biotechnology and has also set its sights on the global generics business.
Earnings per share increased by 111 per cent at Rs 7.18 per share as against Rs 3.40 per share in the previous year.
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