Fulford (India), belonging to Schering-Plough, has incurred a net loss of Rs 1.12 crore during the first quarter ended March 2009 as compared to a profit of Rs 0.40 crore in the similar period of last year. Its net sales also declined marginally to Rs 32.17 crore from Rs 31.37 crore. The earning per share for the quarter ended March 2009 worked out to negative Rs 2.87 as against Rs 1.03 in the last period.
The board of directors has recommended equity dividend of 20 per cent amounted to RS 78 lakh for the financial year ended December 2008.
The company had raised Rs 40.25 crore by issuing seven lakh equity shares of Rs 10 each at a premium of Rs 565 per share to its promoters Dashtag. The funds were raised to provide capital in order to permit the company to strengthen its position in the market and act on strategic business growth opportunities.