Piramal Healthcare has notched up strong growth in bottom line during the third quarter ended December 2009 and its net profit went up by 127.5 per cent to Rs 136.21 crore from Rs 59.87 crore in the similar period of last year on account of lower R&D expenditure, lower taxation as well as interest burden and foreign exchange adjustments. Its income improved by 9 per cent to Rs 907.70 crore from Rs 832.59 crore. EBDITA moved up by 45 per cent to Rs 180.67 crore from Rs 124.64 crore. The company showed better growth in anti-infective, dermatology, nutritionals, NSAIDs and OTC segment. Despite good performance, Piramal scrip nosedived almost by Rs 23 to Rs 356.50 today on Bombay Stock Exchange.
Its revenues from pharma solutions (custom manufacturing) business remained flat at Rs 210 crore. Its revenues from Indian facilities have grown by 42.3 per cent to Rs 110 crore as against Rs 80.55 crore. With acquisition of Minrad, its revenues from critical care business went up to Rs 77.85 crore as compared to Rs 29.56 crore in the corresponding period of last year.
The company gained Rs 20.43 crore in taxation as against payment of Rs 7.18 crore in the last period. Similarly, is interest burden went down to Rs 21.65 crore from Rs 26.11 crore. The company's R&D expenditure reduced to Rs 15.93 crore from Rs 20.01 crore. However, its provision for depreciation increased sharply by 47.1 per cent to Rs 43.36 crore from Rs 29.47 crore.
For the nine months period ended December 2009, Piramal Helathcare's net income improved by 12.3 per cent to Rs 2729 crore from Rs 2430 crore in the same period of last year. Its net profit has taken a quantum jump of 62.7 per cent to Rs 327.58 crore from Rs 201.35 crore. The revenues from pharmaceutical segment increased by 12 per cent to Rs 2577 crore from Rs 2303 crore.