Kilitch Drugs Q1 results positive

Mumbai, July 31 (UNI) Pharma major Kilitch Drugs (India) Ltd has posted Rs 209.50 lakh net profit for the first quarter ended June 30 as compared to Rs 13.17 lakh during the corresponding period a year ago, registering a massive 1,590 per cent jump.

Credit for the performance has been given to the new range of product mix churned out by its new plant at Paonta Sahib in Himachal Pradesh and tax benefits, the company release said.

Kilitch Drugs (India) Ltd MD Mukund P Mehta said the company's new plant in Himachal Pradesh has been been approved by both domestic and international pharma companies, and negotiations are on for orders. The plant which is operating at 20 per cent of its installed capacity is expected to operate at 60-70 per cent by the end of the present fiscal, which would further improve the top and bottomlines of the company.

The Kilitch Group produces liquid ampoules, vials and multi-vitamin injections from its three manufacturing facilities at Mumbai, Himachal Pradesh and NBZ Pharma Ltd, added the release.

UNI