The top-line of the company grew by 13.24% YoY to Rs 402.31 cr` as against Rs 355.26 cr.

The EBITDA expanded by 19.23%Y-O-Y to Rs.45.88 cr.

The net profit improved by 33.87% on Y-o-Y basis to Rs.42.09 cr due to lower interest cost.

The Company announced a dividend of Rs.7 per share. The current dividend yield stands at 1.5%.

Incorporated in the year 1947, Indoco remedies Ltd. is a Mumbai based pharmaceutical company that focuses on formulations, with some presence in contract manufacturing and research. It also deals in Active Pharmaceutical Ingredients (API) that is manufactured by a group company. The company has its presence in the therapeutic segments which include anti-infective, anti-cold preparation, ophthalmic, anti-spasmodic, stomatology, antiinflammatory and anti-fungal.

During the quarter ended 31st March, 2010, the net sales of the company reported an increment of 28.10% y-o-y to Rs
108.87 cr as against Rs 84.99 cr during the corresponding quarter last year.

The operating performance of the company improved by 55.23% YoY to Rs 12.62 cr as against Rs 8.13 cr. This is a consequence of higher raw material expenditure during the quarter. The raw material cost increased by 64.46% to Rs
48.04 cr as against Rs 29.21 cr during the corresponding quarter last year. The OPM for the quarter appreciated 202bps to 11.59% as against 9.57% on sequential basis.

The bottom-line of the company expanded by an impressive 109.95% Y-o-Y to Rs 8.23 cr as against Rs 3.92 cr during the corresponding quarter previous year, interest cost fell by 44% to Rs 0.72 cr as against Rs 1.29 cr during the quarter. On a Q-o-Q basis, the top-line of the company reported a growth of 13.76% to Rs 108.87 cr as against Rs 95.7 cr.

The operating profit of the company expanded by 10.31% to Rs 12.62 cr as against Rs 11.44 cr largely due to improved topline performance. The net profit of the company grew impressively by 6.47% to Rs 8.23 cr as against Rs 7.73 cr on sequential basis.