Hikal, a Rs.665 crore plus diversified company engaged in pharmaceutical and crop protection products segment, has posted satisfactory performance during the fourth quarter ended December 2013 and its net profit increased by 13.8 per cent to Rs.10.28 crore from Rs.9.03 crore in the corresponding period of last year. Its net sales have taken quantum jump of 41.5 per cent and reached at Rs.216.42 crore from Rs.152.02 crore. EBDITA moved up by 13.6 per cent to Rs.50.06 crore from Rs.44.07 crore. EPS worked out to Rs.6.25 as compared to Rs.5.49. The company declared an interim dividend of 20 per cent per share of the face value of Rs.10 each.

For the nine months ended December 2013, Hikal's net sales increased by 27.6 per cent to Rs.601.68 crore from Rs.470.77 crore in the similar period of last year. Its pharmaceutical sales increased by 38.6 per cent to Rs.366.86 crore from Rs.264.62 crore, and contributed almost 61 per cent to its total net sales. Similarly, the sales of crop protection products increased by 13.9 per cent to Rs.234.82 crore from Rs.206.15 crore. Crop protection sales worked out to 39 per cent of its net sales. The net profit went up significantly by 276 per cent to Rs.61.02 crore from Rs.16.24 crore due to lower forex loss and higher other income during the first nine months of 2013-14.

Its forex loss amounted to Rs.9.86 crore for the nine months as compared to Rs.37.63 crore in the last period. Its other income went up to Rs.33.76 crore from Rs.5.63 crore as the company canceled the ESOP scheme. Consequently, Rs.33.06 crore in the trust was received by the company and accounted as other income.