Gross profit before depreciation stood at Rs 16.83 crore, which is 58 per cent higher than Rs 10.64 crore in the previous year. Profit before tax (PBT) rose 99 per cent to Rs 10.15 crore, up from Rs 5.10 crore in 1997-98.

Depreciation and provision for taxation stood at Rs 6.68 crores and Rs 1.51 crores respectively. Interest for the year was Rs 17.32 crores.

The company's official spokesman said that the key brands that contributed to the growth include Lomofen (for bacterial diarrhoeas) and Lomotil (an adjunt to rehydration in acute diarrhoea), both from the GD Searle stable.

RPG Life Sciences has recently signed an agreement with GD Searle, under which theformer will continue to manufacture and market Searle brands already in its portfolio for a period of 50 years, upto 2048.

Sales of pharmaceutical products registered a growth of 12.2 per cent in a highly competitive market. Margins in the agrochemicals business, however, remained under pressure due to intense competition and the consequent downward revision in prices for its key products. Turnover from the agrochemicals business was, however, higher by 14.8 per cent.

RPG Life Sciences has also identified new areas of growth for the current year, including fermentation. The company has already commenced the manufacture of doxorubicin and cyclosporin (both for the first time in India) with effect from January 1999.

"These products have been well accepted in the market and have contributed more than Rs 3 crores to the company's turnover," a company press release said.