DIL Ltd, formerly known as Duphar-Interfran Ltd, has notched up a net profit growth of 200 per cent during the year ended March 2004 basically due to improved treasury operations. The net profit went up to Rs 6.68 crore from Rs 2.21 crore in the previous year. With smart rise in profits, its earning per share moved up to Rs 26.47 from Rs 8.75. The Board has recommended equity dividend of 60 per cent on equity capital of Rs 2.52 crore.
Its net sales saw a growth of 45.7 per cent and reached at Rs 19.32 crore from Rs 13.26 crore. The company's other income touched to Rs 10.84 crore from Rs 5.31 crore in the previous year. Its total expenditure reached at Rs 20.13 crore from Rs 13.50 crore. The company's reserves increased to Rs 69.82 crore from Rs 62.91 crore.
Though the sales of bulk drugs and chemicals improved to Rs 20.76 crore from Rs 14.93 crore, the company incurred a loss of Rs 0.89 crore from this business. Its treasury operations generated a profit of Rs 9.24 crore, which pushed its overall profit for the year 2003-'03.
DIL Ltd has demerged its pharmaceutical division of the company into Solvay Pharma India Ltd. The company has entered into a technology licensing agreement during January 2004 for its Vitamin D3, Isox HCL and related products on non-exclusive basis with Fermenta Biotech Ltd (FBL), initially for a period of three years. The company will be entitled to receive royalty from FBL.