Bilcare Ltd, service provider to the pharmaceutical companies spanning across their value chain from drug discovery to market, has suffered a setback during the second quarter ended September 2008 and its consolidated net profit declined by 23.3 per cent to Rs 14.62 crore from Rs 19.07 crore in the corresponding period of last year. Its consolidated net sales, however, went up sharply by 53.2 per cent to Rs 211.04 crore from Rs 137.79 crore.

For the half six months ended September 2008, the company's consolidated net sales increased by 48.4 per cent to Rs 398.54 crore from Rs 268.62 crore in the same period of last year. Its net profit improved marginally to Rs 35.70 crore from Rs 35.60 crore.

Mohan Bhandari, chairman and managing director, said, "During this quarter, the overseas sales growth has been more than 130 per cent as a resultant of the investments made earlier. With India sales growth at 21 per cent, the overall business grew by 50 per cent."

The standalone net profit during the second quarter ended September 2008 declined by 30.8 per cent to Rs 11.31 crore from Rs 16.34 crore in the corresponding period of last year. Its EBDIT also moved down by 17.9 per cent to Rs 26.93 crore from Rs 31.03 crore. The company's net sales increased by 21.1 per cent to Rs 118.61 crore from Rs 97.95 crore. With fall in profit level, its earnings per share for the quarter worked out to Rs 6.57 as against Rs 10.71 in the last period.