GRL posts Rs 6 cr net

Mumbai, January 25: | Updated: Jan 26 2002, 05:30am hrs
German Remedies Ltd (GRL) has reported a lower net profit at Rs 6.03 crore for the quarter ended December 31, 2001 as against Rs 6.59 crore for the corresponding period the previous year. Net sales during the reporting quarter increased to Rs 53.13 crore as compared to Rs 52.43 crore for the same quarter last year.

Other income for the quarter stood at Rs 88 lakh as compared to Rs 35 lakh for the same period the previous year.

In the second quarter, the company was formally taken over by Ahmedabad-based Zydus Cadila. Since then, increased sales and improved profitability have been the twin areas of focus at the company. In a press statement, the company said that in spite of a drastic cut in prices of asprin tablets due to the low ceiling price fixed by the Government, the company has fared well. With a strategy for turnaround in operations firmly in place, German Remedies has been looking at greater thrust in sales performance, building established brands, new product introductions, networking of operations and improved efficiency in supply chain management.

During the quarter, the company launched Mirena, an intra-uterine hormonal system.It plans to launch products in the core segments of respiratory, respiratory antibiotic, gastrointestinal and female healthcare.