Hikal net profit surges 499% to Rs.11 crore in Q1 FY17

The company’s Net sales up 16% to Rs. 221 crore as compared to Rs. 191 crore in the corresponding period of the previous year.

Aug 11, 2016 03:08 IST India Infoline News Service

Hikal
Hikal Ltd, a preferred long-term partner for leading global life sciences companies, announced its financial results for the first quarter ended 30th June 2016.
 
The company’s Net sales up 16% to Rs. 221 crore as compared to Rs. 191 crore in the corresponding period of the previous year. Crop protection sales up 25% to Rs. 79 crore as compared to Rs. 63 crore in the corresponding period of the previous year and Pharmaceutical sales up 11% to Rs. 142 crore as compared to Rs. 128 crore in the corresponding period of the previous year.

The company’s EBITDA up 22% to Rs. 44 crore as compared to Rs. 36 crore in the corresponding period of the previous year and Profit Before Tax and Exchange Losses up by 79% to Rs. 16 crore as compared to Rs. 9 crore in the corresponding period of the previous year.

The Net Profit up by 490% to Rs. 11 crore as compared to Rs. 2 crore in the corresponding period of the previous year.
 
Commenting on the results, Jai Hiremath, Chairman & Managing Director, Hikal Ltd. said, “We are off to a good start in Q1. Both our divisions have done well. Our Crop Protection business recorded a 25% growth in sales on higher offtake of our existing and new products. Our Pharmaceutical division grew by 11%, on higher volumes of existing products. We continue to invest in debottlenecking our existing facilities while building multipurpose plants for our new projects which are expected to come on stream in the next 12 – 18 months. Our investments in R&D will yield benefits through introduction of new products. We are on track to deliver sustainable growth for FY 16’17.

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