Financial Daily from THE HINDU group of publications
Friday, Apr 19, 2002
Financial Daily from THE HINDU group of publications Friday, Apr 19, 2002 |
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Corporate Results
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Pharmaceuticals Merck Q1 net up 44 pc at Rs 9.6 cr Our Bureau
MUMBAI, April 18 MERCK Ltd, formerly known as E.Merck (India) Ltd, has reported a 43.9 per cent increase in net profit at Rs 9.62 crore for the first quarter ended March 31, 2002 as against Rs 6.69 crore in the same period last year. Net sales have gone up 10 per cent to Rs 79.18 crore (Rs 71.93 crore). Other income was at Rs 2.1 crore (Rs 1.14 crore). Total expenditure was at Rs 66.52 crore (Rs 60.95 crore) while depreciation was at Rs 2.48 crore (Rs 2.29 crore). Expenses of Rs 16.42 crore arising from VRS payments to 163 employees from the company's Taloja factory have been amortised over a period of five years as against writing them off in the year of payment. The proportionate charge during the quarter amounted to Rs 0.82 crore, a news release said.
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