Taro Pharma's net income raise by 70% to US$ 153 mn in Q4
Taro Pharmaceutical Industries has posted strong net profit growth of 70 per cent during the fourth quarter ended March 2015 to US$ 153 million from million in the similar period of last year. Its net sales up by 30.5 per cent to 4 million from 7 million. With smart improvement in earnings, EPS worked out to .56 as against .10 in the last period. Its R&D expenses raised to .9 million from .1 million and selling, marketing, general and administrative expenses declined by 16.5 per cent to .2 million from .6 million.
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For the full year ended March 2015, Taro's net sales increased by 13.7 per cent to 3 million from 9 million in the previous year and net profit went up by 34.6 per cent to 6 million from 361 million. EPS for the year 2014-15 worked out to .32 as against .15 in the last year. Its R&D expenditure increased by 18.2 per cent to .5 million from .4 million. Income through settlements and loss contingencies was at .2 million as against expenses of .6 million in the previous year. Its total debt decreased to million due to paying-off of its debentures with institutional holders.
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During 2014-15 company filed five ANDAs and a one NDA with the US FDA and its cumulative filings reached at 12 ANDAs. The company is awaiting approval for 35 ANDAs and one NDA.