Solvay Pharma India, a relatively small MNC operating from Mumbai, received setback during the third quarter ended September 2005 as the company included Rs 8.75 crore as exceptional items during last year.

The net profit after exceptional item declined by 55.3 per cent to Rs 5.39 crore from Rs 12.05 crore in the corresponding period of last year. The profit before exceptional items and taxation worked out to Rs 8.59 crore as against Rs 8.52 crore in the last period. The company’s net sales 12 per cent to Rs 35.76 crore from Rs 31.93 crore in the similar period of last year. The earning per share for the Q3 amounts to Rs 10.68 as against Rs 23.86.

For the nine months period ended September 2005 its net sales increased by 11.2 per cent to Rs 94.92 core from Rs 85.34 crore. Its profit before exceptional items and taxation reached at Rs 20.97 crore from Rs 17.38 crore in the corresponding period ended September 2004. However, net profit after exceptional items and taxation declined to Rs 13.46 crore from Rs 17.76 crore. The EPS worked out to Rs 26.65 as against Rs 35.18.