The Hindu Business Line : Hikal Q4 net up at Rs 12.4 cr

Hikal Ltd has posted a net profit of Rs 12.4 crore for the fourth quarter ended March 31, 2006, marginally higher from Rs 11.5 crore posted during the corresponding period last year.

Revenues for the quarter under review increased to Rs 57.9 crore, as compared to Rs 55.6 crore during the same period last year.

Dividend

The company also announced an annual dividend of 65 per cent per equity share at Rs 6.50 per share.

Hikal's pharma initiatives continue to be a major focus area, registering a growth of 68 per cent this year and its agrochemicals business has also registered an above industry average growth of seven per cent, a company statement said.

Hikal's net sales for the year ended March 31, 2006 rose to Rs 231 crore, up 24 per cent from Rs 187 crore for the previous year. Net profit for the year jumped to Rs 41.4 crore, up 21 per cent from Rs 34.1 crore in 2004-05.

Consolidated sales including Marsing grew to Rs 456 crore, as compared to Rs 333 crore last year.

Mr Jai Hiremath, Hikal's Vice Chairman and Managing Director, said that the company made strategic investments last year and adopted an aggressive growth path. "The restructuring efforts at our subsidiary Marsing continue, results of which would reflect in the years to come," he added.

Hikal shares closed at Rs 553.90, down close to two per cent on the BSE.