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Hyderabad, July 27

SMS Pharmaceuticals Ltd’s net profit decreased to Rs 1.21 crore in the first quarter ended June 30, 2009 compared with Rs 6.26 crore in the corresponding quarter of the previous financial year. The turnover of the Hyderabad-based company also declined to Rs 52.53 crore (Rs 56.33 crore). The earnings per share stood at Rs 1.22 (Rs 6.26). The board of directors of the company, at its meeting recently, approved enhancement of the borrowing powers from Rs 125 crore to Rs 300 crore, subject to the approval of the shareholders in the Annual General Meeting to be held in the last week of September, it informed BSE.

– Our Bureau

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