Fulford (India) Ltd improved its performance during the first half ended June 2004. The company earned a net profit of Rs 5.23 crore as against a loss of Rs 1.29 crore in the corresponding period of last year. Its net sales moved up 6 per cent to Rs 60.28 crore from Rs 56.85 crore.

The cost of raw material declined to Rs 35.39 crore from Rs 38.05 crore in the corresponding period of preceding year. Similarly, its interest burden during the first half of the current year declined to Rs 0.32 crore from Rs 0.95 crore. The staff cost, however, increased to Rs 7.26 crore from Rs 6.94 crore. The earning per share worked out to Rs 16.34 as against a negative figure of Rs 4.03.

The company received sanctioned from the Stock Exchange Mumbai for the amalgamation of Wellnex Pharmaceuticals Pvt Ltd, a wholly owned subsidiary of the company.