Mumbai, Oct 27: Pharma major Nicholas Piramal has notched up a 20 per cent increase in net profit to Rs 20.87 crore in the first half of the current financial year, up from Rs 17.37 crore for the corresponding period last year. Sales, however, grew slower at 17 per cent to touch Rs 211.8 crore, from Rs 181.45 crore for the corresponding period last year. The better performance in the current year is after accounting for the spin off of the Falconnage and Bulk Drugs division into two separate subsidiaries. The combined turnover for the first half of last year stood at Rs 230.25 crore, while net profit was Rs 21.11 crore.
Total expenditure increased from Rs 152.3 crore in the first half for 1997-98 to Rs 177.67 crore this year, interest cost has gone up marginally from Rs 7.46 crore to Rs 8.25 crore. Depreciation has gone up from Rs 3.54 crore in the first six months last year to Rs 4.18 crore
Along with the subsidiaries of Nicholas Piramal, Gujarat Glass, Global Bulk Drugs, Sarabhai Piramal and ReckittPiramal have turned in total sales of Rs 280.74 crore, taking the turnover of Ajay Piramal's healthcare group to Rs 492.5 crore. The group hopes to make it to the Rs 1,000-crore turnover mark by the end of the current financial year.
Bombay Dyeing post Rs 11cr net profit in first half:
Bombay Dyeing Manufacturing & Co, flagship of the Wadia group, has reported a net profit of Rs 11.16 crore on a sales turnover of Rs 447.87 crore for the half year ended September 30, 1998.
The net profit and the turnover for the second quarter ended September 30, 1998 was at Rs 5.84 crore and 228.53 crore respectively, a company release said.
The company posted a net profit of Rs 5.32 crore on a turnover of Rs 219.34 crore during the first quarter. However, figures for the first six months and the second quarter of the first quarter were unavailable.
Gross profit after interest but before depreciation, voluntary retirement compensation and taxation for the six months ended September 30, 1998 was at Rs 39.78 crore.Total expenditure and interest were at Rs 412.66 crore and Rs 37.75 crore respectively for the half year ended September 30, 1998. Other income stood at Rs 42.32 crore for the first half.
Depreciation was at Rs 25.85 crore for the first half. A sum of Rs 1.63 crore has been provided for volunatry-retirement compensation in the first half. An amount of Rs 1.14 crore was provided for taxation during the first half. Paid-up equity capital stood at Rs 41 crore for the six months ended September 30, 1998.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
Printer-friendly page
