Albert David is a Kolkata based pharma compan, a part of the Rs 2,000 crore Kothari Group. It makes and markets branded formulations in India and abroad, with operations in medical disposables too. The company was in the limelight yesterday after it announced that it has sold off its gastrointestinal brand 'Actibile' to Zydus Healthcare for Rs.55 crore. The transaction was a part of strategic initiative by Albert David and the proceeds front the sale will be invested for growth and expansion of the branded formulation business of the company.

On the financial front, the company ended Q3FY16 with a net loss of Rs.5 crore compared to profit of Rs.66 lakh in previous Q3 and profit of Rs.6 crore in Q2. This loss was on account of Rs.6 crore provided as Income Tax for previous years. But overall, it has been a lackluster quarter with net sales dropping 4% (YoY) at Rs.73 crore and it was only thanks to operating costs coming down that it could stay in profits even before this tax outgo. The company’s equity is small at Rs.5.71 crore and promoters hold 60.90% stake.