The total turnover for the third quarter 2005-06 recorded an impressive growth of 26% over the corresponding period in the previous year. Exports continued to grow at a remarkable rate of more than 35% as also the domestic segment, which performed well with a growth of about 18%.

Among the major segments, anti-retrovirals, anti-inflammatory and anti-ulcerant segments have shown good performance in the domestic market. In the exports markets, anti-retrovirals, anti-malarials, anti-asthmatics, anti-depressant and anti-epileptic segments have performed well.

The increase in staff cost is commensurate with the increase in activities.

The increase in other expenses is mainly due to an overall increase in level of operations and commencement of Baddi factory resulting in increased manufacturing overheads including power & fuel, stores & spares, repairs & maintenance and other overheads such as export commissions, travel and promotional costs, excise duty on damaged goods and write-off of discarded assets.

Interest costs have increased due to increase in borrowings for working capital purposes.

Depreciation has increased by Rs. 10 crores on account of substantial additions to Goa and Baddi during the year.

There is no deferred tax for the quarter as the timing difference on account of depreciation has reduced due to higher depreciation/write-off of discarded assets.

Out of a total insurance claim amounting to about Rs. 95 crores, an on account payment of about Rs. 73 crores has already been made and the total claim is expected to be processed and settled in the next quarter.