Elder Pharmaceuticals today reported 7.23% increase in its consolidated net profit at Rs 18.52 crore for the quarter ended March 31, 2012 mainly on account of reduction in material costs.

The company had posted a net profit of Rs 17.27 crore for the corresponding period of previous fiscal, Elder Pharmaceuticals said in a filing to BSE.

Consolidated total income of the company stood at Rs 345.90 crore for the quarter ended March 31, 2012 as against Rs 305.15 crore for the same period of previous fiscal.

The company had forayed into the estimated Rs 700 crore face wash market in the country by introducing products under 'Skin Origins' brand in February.

Shares of Elder Pharmaceuticals today closed at Rs 316.20 on BSE, down 2.06% from its previous close.

Source: Business Standard

Date:6th May,2012