Piramal Healthcare, which sold its domestic formulation business to Abbott Healthcare Pvt Ltd for Rs. 16,210 crore and Diagnostic Services to Super Religare Ltd for Rs.363 crore, has posted consolidated net profit of Rs.12,883 crore during the year ended March 2011 as against Rs.443.22 crore in 2009-10. The figures are not strictly comparable. The profit before depreciation, interest, taxation and exceptional items worked out to Rs.563 crore as against Rs.833 crore. Its consolidated net sales, after selling its businesses, amounted to Rs.1,610 crore as against Rs.2,666 crore in the previous year.
The company declared aggregate equity dividend of 600 per cent (Rs.12 per share of Rs.2 each), including a special one-time dividend of 300 per cent. It has bought back 410.97 lakh shares for an aggregate amount of Rs.2,457 crore. As at the end of March 2011, its equity capital stood at Rs.33.58 crore and its reserves & surplus amounted to Rs.11,665 crore. Piramal's investments went up to Rs.1583 crore from Rs.192 crore in the 2009-10.
Its standalone net sales, after selling its businesses, reached at Rs.1,610 crore during the year ended March 2011 from Rs.2,666 crore in the previous year and its standalone net profit moved up to Rs.12,897 crore from Rs.443 crore. Pharma solutions business recorded sales of Rs.1021 crore against Rs.939 crore in previous year. The revenues from Indian facilities grew by 21.9 per cent to Rs.525 crore. Critical care business increased by 18.3 per cent to Rs.388 crore against Rs.328 crore in FY2010. OTC and opthalmology business recorded sales of Rs.196 crore registering growth of 10.6 per cent.
Piramal Healthcare has entered in to financial services sector by acquiring Indiareit Fund Advisors Pvt Ltd and Indiareit Investment Management company for a consideration of Rs.225 crore.
Indiareit Fund Advisors are advisors to the Indiareit Fund which is domestic real estate private equity fund focussed on the Indian markets. Indiareit Investment Management company is managers to offshore Real Estate Private Equity funds investing in India through the FDI route Total funds under management for these funds is Rs.3,800 crore.