Hikal reports net profit of Rs 15.1 crore

Hikal announced a net profit of Rs 15.1 crore for the quarter ended 31st March, 2012, 7.09 % higher as compared to Rs 14.1crore for the corresponding quarter last year.

Net sales for the period were higher by 46.13 % at Rs 221.4 crore as against Rs 151.5 crore last year. Jai Hiremath, chairman & Managing Director, Hikal, attributed this to increased market share in the regulated markets of the US, Europe and Japan.

The company also announced annual results for 2011-2012. It posted a net profit of Rs 54.1crore, up 22.12% as compared to Rs 44.3 crore the previous year. Net sales for the year were up 40.66% at Rs 694.2 crore as against Rs 493.5 crore for the previous fiscal.

The board also announced a final dividend of 60% for the year ended 31st March 2012.