Hikal, a Rs.925 crore plus Mumbai based company engaged in pharmaceuticals and crop protection products, has posted hefty jump in net profit to Rs.10.96 crore during the first quarter ended June 2016 from Rs.1.83 crore in the same period of last year. Foreign exchange loss amounted to Rs.1.36 crore as compared to Rs.6.12 crore. Due to higher profit, EPS moved up to Rs.1.33 from Rs.0.22 in the last period.

After the announcement of financial results, Hikal scrip closed lower by Rs.15.25 or 7.8 per cent to Rs.180.45 on BSE.

Its net sales increased by Rs.225.96 crore from Rs.193.78 core. Hikal's pharmaceutical sales increased by 10.9 per cent to Rs.142.13 crore from Rs.128.20 crore, contributing 64.2 per cent to its total sales. Similarly, crop protection products sales increased by 25 per cent to Rs.79.10 crore and contributed 35.8 per cent to its sales.

For the full year ended March 2016, Hikal's net sales amounted to Rs.935.47 crore and it registered a net profit of Rs.41.31 crore. As against the equity capital of Rs.16.44 crore, its reserves & surplus worked out to Rs.442.90 crore.