Hikal Ltd has reported impressive performance during the second quarter ended September 2007 with net profit jump of 84 per cent to Rs 14.5 crore from Rs 7.90 crore in the corresponding period of the last year. Its net sales went up by 30 per cent to Rs. 78.1 crore from Rs 59.80 crore. The pharmaceutical segment achieved sales growth of 64.6 per cent to Rs 36.7 crore from Rs 22.30 crore and the sales of crop protection products increased by 10.4 per cent to Rs 41.4 crore.

"The results in this quarter have registered an impressive growth. Considering the fact ht rupee has depreciated by 10-12 per cent a 30 per cent increase in the turnover is indicative of the volume growth the company has witnessed in this quarter. We have been able to maintain the margins due to better product mix and higher sales volume. Our effort on the restructuring of Marsing and Co Ltd is paying off results. The losses for the quarter have come down by 66 per cent and we expect the company start generating cash profit by the end of the year," said, Jai Hiremath, vice chairman and managing director, Hikal.

Hikal is setting up a contract research facility at Pune through its subsidiary - Hikal Technologies. The first phase of the facility is in the final stages of construction and would be operations soon. The facility will provide chemical contract research services for clients in the pharmaceuticals, biotech and specialty chemical industries and special emphasis will be given to safety and scalability of processes provided, in order to facilitate smooth transfer to piloting and manufacturing operations. The company has also set up new labs at the R&D facility at Bangalore and enhanced the existing capacities to cater to the increasing demands of the clients.

For the first half ended September 2007, its sales increased by 20.1 per cent to Rs 134.30 crore and its net profit went up by 62.9 per cent to Rs 23.3 crore.

Established in 1988, Hikal is a reliable partner to companies in the pharmaceuticals, biotech, agrochemicals and specialty chemicals industries. They provide world-class active ingredients, intermediates and R&D services and solutions in a safe, secure and confidential manner. Hikal's advanced infrastructure has been inspected and approved by globally recognized bodies such as the US FDA.