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February 29, 2008 |
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RPG LIFE: Swings to INR7-Mil. Net Profit in Oct.-Dec. 2007 RPG Life Sciences Ltd. reported a net profit of INR7 million on total revenues of INR308.4 million in the three months ended Dec. 31, 2007. The bottom line is a turnaround from the INR3.4-million net loss booked in the three months ended Dec. 31, 2006, when the company earned total revenues of INR260.4 million. In Oct.-Dec. 2007, the company booked operating expenses of INR262.4 million, leaving the company with an operating profit of INR46 million (INR37.9 million in 2006). The company also booked interest of INR21.2 million, depreciation of INR12.3 million and taxes of INR5.5 million in the three-month period. A copy of the company's financial results for the quarter ended Dec. 31, 2007, is available for free at: http://ResearchArchives.com/t/s?2896 Headquartered in Mumbai, India, RPG Life Sciences Ltd., Brabourne Enterprises Ltd. -- http://www.rpglifesciences.com/ -- is a full spectrum, world class, customer focused, innovative pharmaceutical organization. Formerly known as Searle (India) Ltd., the company develops, manufactures and markets, for national and international markets, a broad range of branded formulations, generics and bulk drugs developed through fermentation and chemical synthesis routes. On April 17, 2003, Credit Analysis and Research Limited downgraded the rating of the outstanding NCD program of INR145.5 million of RPG Life Sciences rating from CARE BBB to CARE D. The downgrade is on account of a default in debt servicing obligations towards institutional investors. |
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