The Hindu : Business : Nicholas Piramal net profit spurts

Online edition of India's National Newspaper
Friday, Jul 23, 2004

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Business

Nicholas Piramal net profit spurts

Nicholas Piramal India has reported a higher net profit of Rs.48.74 crores in three months ended June 30, 2004 against Rs. 26.32 crores in the same period in the previous year.

Total income has increased to Rs. 354.13 cores from Rs. 300.05 crores. According to Ajay Piramal, Chairman, the domestic formulation business grew by 14.6 per cent against the industry average of 7.8 per cent. Exports stood at Rs. 37.79 crores. The results for the reporting quarter are not strictly comparable with that of same quarter in 2003-04 due to merger that took place in the financial year 2004.

Novartis

Novartis India has achieved a higher net profit of Rs. 21.14 crores for the quarter ended June 30, 2004 against Rs. 17.63 crores in the same quarter in 2003-04. Total income has declined to Rs. 138.48 crores from Rs. 140.89 crores.

Lakshmi Mills

Lakshmi Mills has reported a net profit of Rs. 17.18 lakhs in the three months ended June 30, 2004 against a loss of Rs. 2.99 crores. Net sales have risen to Rs. 36.28 crores from Rs. 26.23 crores in the same period year-ago. Interest charges claimed Rs. 1.29 crores (Rs. 1.51 crores). The provision for depreciation is Rs. 1.21 crores (Rs. 1.45 crores). There is no liability for taxation.

Crompton Greaves

Crompton Greaves has registered a net profit of Rs. 17.53 crores in the quarter ended June 30, 2003 against Rs.2.73 crores in the same quarter in the previous year.

Total income has increased to Rs. 428.82 crores from Rs. 376.04 crores.

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