RPG LIFESCIENCES
In Q4Fy13, it was the tax write back of Rs.4 crore which had helped the company turnaround and this time, in Q1FY14, it was the exceptional income which helped it post a 18 times (YoY) jump in net profit at Rs.55 crore on a 14% rise in net sales at Rs.63 crore. The exceptional income of Rs.64 crore came in sale of its surplus land at Navi Mumbai to Maruti Suzuki. But for this income, given the tax outgo of Rs.15 crore, the company would have posted a net loss.
Total debt of the company stood at Rs.47.61 crore as at 31st March 2013. The company's equity capital is Rs 11.50 crore. Face value per share is Rs 8. The company has received a warning from the US FDA for violations of good manufacturing practices at two of its facilities – Navi Mumbai and Ankleshwar. The company has stated that it has started taking corrective steps. But till it satisfies the US FDA, new approvals will also remain in jeopardy.