FDC, a Rs.700 crore pharma major from Aurangabad, has suffered a setback during the second quarter ended September 2011 and its net profit declined by 26.9 per cent to Rs.36.82 crore from Rs.50.34 crore in the corresponding period of last year. Its net sales also declined by 3.3 per cent to Rs.197.15 core from Rs.203.90 crore. With fall in profits its earnings per share worked out to Rs.2 as against Rs.2.70 in the last period.


For the first half ended September 2011, FDC's net sale improved marginally by 0.7 per cent to Rs.379.48 crore from Rs.376.97 crore in the similar period of last year. However, its net profit declined by 16.9 per cent to Rs.71.23 core from Rs.85.68 crore. Its EBDITA also declined by 11.2 per cent to Rs.99.01 crore from Rs.111.50 crore.


The company has bought back through open market transactions 4,64,190 equity share of Rs.1 each, during the quarter ended September 2011. All the equity share have been extinguished as of date. Further 27,985 equity share were bought back making it a total buyback of 24,91,065 equity shares, since commencement. As at the end of September 2011 its equity capital stood at Rs.18.38 crore.


FDC has acquired 100 per cent stake of Anand Synthochem Ltd (ASL), a related, unlisted public company , from its erstwhile shareholders, for a total amount of Rs.6.43 core (including a loan of Rs.38.42 core), thereby ASL, a wholly owned subsidiary of the company. Though ASL does not have any substantial operations, it owns a property at Dombivli admeasuring 81,855 sq. ft. which FDC proposes to use for its business operations.