Business Daily from THE HINDU group of publications
Friday, Apr 27, 2007
ePaper
Business Daily from THE HINDU group of publications Friday, Apr 27, 2007 ePaper |
|
|
|
|
|
|
|
Corporate
-
Outlook Nicholas Piramal targets 25% growth this year Our Bureau
Mr Ajay Piramal
Mumbai April 26 Nicholas Piramal India Ltd (NPIL) expects domestic business and its custom manufacturing alliances to drive growth in the forthcoming financial year. With 13 molecules in the pipeline in different stages of development and an enhanced research spend of Rs 170 crore this year, NPIL's Chairman, Mr Ajay Piramal, said that the company expects to grow in excess of 25 per cent in the current year. The company's contract manufacturing alliances serviced out of India accounts for $200 million, he said. The Avecia acquisition in December 2005 and the acquisition of the Pfizer's facility at Morpeth, in the UK, in June 2006, had also turned the corner and become positive. All international facilities in Canada and the UK would contribute towards profitability in the future, he added. The company has three prospective molecules in Phase I and Phase II levels of human trials. The company's focus areas are in therapeutic segments like cancer, anti-inflammation, diabetes and anti-infectives, he said. NPIL's strategy is to develop the molecule and commercialise it on its own steam or with a partner, as the case may be, he indicated. With NPIL buying out Boots in the erstwhile joint-venture, Boots Piramal, he said brands like Clearasil and Strepsil have returned to Boots. NPIL has seen a 28 per cent dip in its standalone net profit for the three-month period ended March 2007. It posted a profit after tax and exceptional items of Rs 26.9 crore for the quarter ended March 2007, as compared to Rs 37.6 crore for the quarter ended March 2006. Total income (net of excise) has increased from Rs 343.15 crore for the quarter ended March 2006 to Rs 387.21 crore for the quarter ended March 2007. The dip in profits was due to one-time charges, said Mr Piramal. For instance, the Baddi plant (Himachal Pradesh) had been started ahead of schedule. There were some one-time payments to third party manufacturers whose products were shifted to Baddi, he added. NPIL posted a profit after tax and exceptional items of Rs 188.28 crore for the year ended March 31, 2007, as compared to Rs 170.35 crore for the year ended March 31, 2006. Total income (net of excise) increased from Rs 1,449.44 crore for the year ended March 31, 2006 to Rs 1,639.88 crore for the year ended March 31, 2007.
Consolidated profit
The NPIL Group posted a consolidated profit after prior period items of Rs 54.95 crore for the quarter ended March 31, 2007, compared to Rs 15.17 crore for the quarter ended March 31, 2006. Total income (net of excise) is Rs 645.21 crore for the quarter ended March 31, 2007, as against Rs 433.16 crore for the quarter ended March 31, 2006. The Group posted a consolidated profit after prior period items of Rs 218 crore for the year ended March 31, 2007, where as the same was at Rs 120.65 crore for the year ended March 31, 2006. Total income (net of excise) is Rs 2,472.32 crore for the year ended March 31, 2007 where as the same was at Rs 1,622.62 crore for the year ended March 31, 2006. NPIL said that current quarter and the yearly performances are not comparable with the results of the corresponding previous period and year, as it included acquisitions made in the UK and Canada.
More Stories on : Outlook | Pharmaceuticals
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2007, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|