Shasun Chemicals and Drugs, a global pharma major, has reported 43 per cent rise in net profit at Rs 12.90 crore for the third quarter ended December 2005 as compared to Rs 9.01 crore in the corresponding quarter previous year. Net sales grew by 33 per cent to Rs 98.41 crore as against Rs 73.88 crore during the same quarter previous year. Profit before interest, depreciation and tax increased by 14 per cent to Rs 20.57 crore from Rs 18.10 crore. The Earnings Per Share (fully diluted) stood at Rs 5.02 as on December 31, 2005.
Meanwhile, the company has posted 15 per cent rise in net sales at Rs 255 crore for the nine months period ended December 31, 2005 compared to Rs 221 crore in the corresponding period previous year. CRAM business contributed 12 per cent of the turnover. Net profit increased by 25 per cent to Rs 23.35 crore compared to Rs 18.63 crore during the same period previous year. Net profit on consolidated basis for nine months stood at Rs 24.29 crores.
Shasun Chemicals had recently entered into a letter of intent with the Rhodia Group of France to acquire the pharmaceutical customs synthesis business of Rhodia Pharma Solutions (RPS). Both the parties have entered into an exclusivity agreement to progress towards the final sale and purchase agreement, which is expected to be completed by end March 2006, subject to satisfactory due diligence and regulatory approvals.