Hikal Ltd's Q1 net sales up by 7.2%; EBIDTA up by 5.5%

NEW DELHI: Hikal Ltd, the preferred long-term outsourcing partner for leading global life sciences companies, on Thursday announced its financial results for the first quarter ended 30th June, 2011.

Performance highlights for the Quarter ended 30th June, 2011

Net sales up by 7.2% to Rs. 142.8 crore as compared to Rs. 133.2 crore in the corresponding quarter of the previous year.Crop protection sales up by 13.1 % to Rs. 47.8 crore as compared to Rs. 42.3 crore in the corresponding quarter of the previous year.

Pharmaceutical sales up by 4.5 % to Rs. 95 crore as compared to Rs. 90.9 crore in the corresponding quarter of the previous year.The EBIDTA for this quarter showed a growth of 5.5 % to Rs. 34.5 crore as compared to Rs. 32.7 crore in the corresponding quarter of the previous year ·Net Profit was down 1.5% at Rs. 14.5 crore as compared to 14.73 crore in the corresponding quarter of the previous year.

Commenting on the results, Jai Hiremath, Vice Chairman & Managing Director, Hikal Ltd. said, “We have had a good start to this financial year. Our revenues are up by 7.2 % to Rs.142.8 crore. Our pharmaceutical business has grown by 4.5%, while the crop protection business has grown significantly by 13% this quarter. Our EBIDTA for this quarter has increased considerably by 5.5% in spite of the rupee appreciation. The forecast from our customers for the remaining year is encouraging and we expect improved results for the year.”