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Q1 Results - Net sales at Rs.133 crore; PAT
at Rs. 15 crore
Mumbai, July 22, 2010: Hikal Ltd, the preferred long-term outsourcing partner for leading global life sciences companies, today announced its financial results for the first quarter ended 30th June, 2010.
Performance highlights for the Quarter ended 30th June, 2010
· Net sales up by 5% to Rs. 133.2 crore as compared to Rs. 127.2 crore in the corresponding quarter of the previous year.
· PBT is up to Rs 15.1 crore as compared to Rs. 11.9 crore an increase of 27%
· PAT has risen by 10.7% to Rs. 14.7 crore from Rs. 13.3 crore in the corresponding quarter of the previous year
· Pharmaceutical sales up by 6% to Rs. 90.9 crore as compared to Rs. 86.1 crore in the corresponding quarter of the previous year.
· Crop protection sales up by 3% to Rs. 42.3 crore as compared to Rs. 41.1 crore in the corresponding quarter of the previous year.
Commenting on the results, Jai Hiremath, Vice Chairman & Managing Director, Hikal Ltd. said, “We are pleased to report an increase in sales and profit for the first quarter of FY 2010-11. Despite the continued volatility in Europe, the company has continued to deliver growth across both our Pharmaceutical and Crop Protection divisions. Our profit before tax has improved by 27%.”
About Hikal:
Hikal is a reliable long-term outsourcing partner to companies in the Pharmaceuticals, Crop protection Products, and Specialty Chemicals industry. The company has been supplying key active ingredients (AI), API’s and intermediates, manufactured using stringent global quality standards, for its customers in the United States, Europe and Japan. Hikal’s advanced manufacturing facilities have been inspected and approved by leading global players in Crop protection and Pharmaceutical sectors. The crop protection facilities are located at Taloja and Mahad (Maharashtra). Hikal’s manufacturing activities are supported by state-of-the-art research centres and pilot plant facilities located at Bangalore and Taloja respectively. The API and pharmaceutical intermediates manufacturing facilities are situated in Jigani (Bangalore) and Panoli (Gujarat), respectively. Hikal has also commissioned Acoris Research Ltd., a state-of-the-art contract research facility at the International Biotech Park, Pune.
For further information contact:
Hikal Ltd. - Ms. Sangeeta Salian @ 022 3097 3120, Email - sangeeta_salian@hikal.com
CMCG India – Ms. Sancha Noranho @ 022 2445 0991, Email sancha.noranho@cmcgindia.com
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