Strides Arcolab posts net profit of Rs 42 cr in Q2

Strides Arcolab has achieved better performance during the second quarter ended June 2009 and turned its loss into the profit. Its net profit worked out to Rs 41.77 crore as against a net loss of Rs 48.84 crore in the corresponding period of last year. The company's consolidated net sales increased by 21.3 per cent to Rs 309.76 crore from Rs 255.35 crore. The profit resulted in to earning per share of Rs 10.21 as compared to negative Rs 12.69 in the last period. 

The net sales for the first half ended June 2009 improved by 28.5 per cent to Rs 594.01 crore from Rs 462.33 crore in the previous year. Its net profit also has taken quantum jump and reached at Rs 52.25 crore from Rs 3.75 crore in the previous year.