Hikal Ltd has posted net profit of Rs.6.87 crore for the third quarter ended December 31, 2003 as against Rs.5.67 crore in the corresponding quarter of the previous year, an increase of 21 per cent.

The company’s total turnover for the third quarter has gone up to Rs.38.25 crore as against Rs.30.69 crore for the corresponding quarter in the previous year, an increase of 25 per cent.

The company’s total turnover for the nine months has gone up to Rs.108.61 crore as against Rs.88.26 crore for the corresponding period in the previous year, an increase of 23 per cent.

The company has posted net profit of Rs.18.35 crore for the nine months as against Rs.15.15 crore in the corresponding period of the previous year, an increase of 21 per cent.

Hikal Limited is the leading manufacture of Thiabendazole (TBZ) — a post harvest fungicide. The company is also involved in custom synthesis and toll manufacture of pharmaceuticals, agrochemicals and intermediates. The company has manufacturing facilities at Taloja, Mahad, Panoli and Bangalore. Hikal has made a name for itself in the areas of crop protection chemicals, active pharmaceutical ingredients (APIs) and R&D

The Board of Directors of Hikal Ltd has declared an interim dividend of 20 per cent on expanded capital.