Elder Pharma Q3 net up 30.70%

New Delhi, Jan 29 (UNI) Mumbai-based Elder Pharmaceuticals today said its net profit increased 30.70 per cent at Rs 19.04 crore for the quarter ended December 31, 2007 as against Rs 4.48 crore for the same period a year ago.

Total income also increased 19.95 per cent to Rs 138.78 crore for Q3 FY2007-08 from Rs 115.69 crore during the same quarter a year ago.

''We are very pleased to report an encouraging performance in our key geographies. During the quarter, we were able to simultaneously grow our existing business as well as add new ones,'' said company Director (International) Alok Saxena.

The firm had recently signed an in-licensing agreement with Italy-based Gnosis S p A, under which, Gnosis has licensed an anti-osteoarthritic nutritional supplement S-Adenosyl Methionine (SAMe), and will supply the product in finished form to be marketed in India by Elder Pharma under the trademark Sampure.

It has also been named in the most recent Forbes list of 'Asia's 200 Best under a billion'.

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