Morepen Lab Q4 net profit falls 31% to Rs 20 cr, declares dividend of Rs 0.20 per share

New Delhi: Morepen Laboratories on Monday said its consolidated net profit declined by 31 per cent year-on-year to Rs 20 crore in the March quarter.

The company reported a net profit of Rs 29 crore in the January-March quarter of the last fiscal.

Total income increased to Rs 470 crore as compared with Rs 427 crore in the year-ago period, the drug firm said in a regulatory filing.

For the last fiscal, the company said its consolidated net profit rose to Rs 118 crore against Rs 97 crore in FY24.

Total income rose to Rs 1,830 crore from Rs 1,704 crore in the 2023-24 fiscal.

The company said its board has approved a final dividend of Rs 0.20 per share of Rs 2 each for the financial year ended March 31, 2025.

The board also gave its go-ahead for Morepen Medipath Ltd, a subsidiary of the company, to incorporate a wholly-owned subsidiary in the mainland at Dubai, United Arab Emirates.

The incorporation of the wholly-owned subsidiary is intended to expand both the Business-to-Consumer (B2C) and Business-to-Business (B2B) customer segments and to provide greater access to the medical device business, it added.

Shares of Morepen Laboratories ended 7.38 per cent higher at Rs 60.38 apiece on the BSE.