The net sales were higher at Rs 174.20 crore from Rs 144 crore during the same quarter last year, an increase of 21 per cent.

The operating margins improved to 15.52 per cent from 11.2 per cent on account of contribution from value added drugs business. Contribution to total revenues from Cephalosporins business increased to 22.53 per cent from 6.14 per cent.

According to a press release, the exports jumped to Rs 71.10 crore from Rs 46.94 crore, an increase of 51 per cent and the EPS for the quarter works out to Rs 18.61 (Rs 74.44 annualised) on the equity of Rs 10 crore as compared to Rs 11.15 (Rs 44.60 annualised) for the corresponding period last year.

The H1 sales increased to Rs 357 crore as against Rs 248 crore during the same period last year and the net profit shoots up to Rs 37.2 crore from Rs 20 crore for the same period last year. The exports revenue for the current half sharply increased to Rs 148.80 crore from Rs 84 crore.

APL will commission its Rs 15 crore R&D cetnre shortly. The centre will develop two new product technologies which are expected to be commercialised during the current year. The company's oral and sterile cephalosporins dosage forms facility is under testing for commercialisation during this month.

The company's new manufacturing facility for other dosage forms is expected to go on stream before March 2000, according to the release.