According to a TPL press release, the Russian government tender business in the previous year accounted for Rs 74 crores. The fall in exports to Russia owing to the prevailing economic and political situation in the Russian market partially explained the TPL's 75 per cent drop in total exports to Rs Rs 26.17 crores in 1998-99 from Rs 105.36 crores in the previous year.

Meanwhile, as part of its re-structuring exercise effective April last, TPL has decided to concentrate in the product portfolios of ophthalmology, dermatology, gynaecology and diabetology, besides consolidating in cardilogy, neuropsychiatry, anti-infectious and gastro-intestinal products. Among the new products launched recently included Nikoran IVfor critical care in cardiology and a novel drug approved for launch in the anti-epileptic category.

The release claimed that despite a 8.4 per cent fall in Profit After Tax (PAT) to Rs 36.35 crore in 1998-99 from Rs 39.72 crore the previous fiscal, its Profit Before Interest & Depreciation (PBIT) has imporved to 29 per cent and Profit Before Tax (PBT) has doubled to 24 per cent of the net sales.

The company's interest during the year stood at Rs 4.68 crore (compared to Rs 13.25 crore previous year), depreciation Rs 7.14 crore (Rs 6.45 crore) and tax Rs 4.29 crore (Rs 2.55 crore).