Nicholas Piramal achieved net profit of Rs. 77.5 crore for the quarter ended March 31, 2004 compared to Rs. 39.62 crore for the previous corresponding period, a growth of 95.7 per cent. Company’s net sales for the period stood at Rs. 432.3 crore, a growth of 61.8 per cent compared to Rs. 267.2 crore, a year ago.

For the year ended March 31, 2004, the company reported 59 per cent growth in net profit at Rs. 188 crore as against a NP of Rs. 118 in the previous year. The net sales of the company for the year ended March 2004 stood at Rs. 1,269 crore, a growth of 31.6 per cent compared to Rs. 964.2 crore, the previous year.

The company during the year ended March 31, 2004 crossed the significant landmark of Rs. 100 crore in export sales. The company’s expenditure increased to Rs. 30.19 crore in FY 04 from Rs. 16.85 crore in FY 03.

Announcing the results, Ajay Piramal, chairman, NPIL, said, “NPIL’s differentiated business strategy has now taken deep roots with yet another strong performance crossing significant landmarks in exports, profit and EPS.” “Our efforts will now be towards making the next big leap forward to achieving excellence and leadership in the global market place,” he added.