Mumbai, Feb 9 (PTI) Hikal Ltd, an outsourcing partner for leading global life sciences companies, today reported 152.1 per cent jump in net profit at Rs 13 crore in Q3 FY 12 as compared to Rs 5.2 crore in the same period last year. Net sales for the quarter under review stood at Rs 185.5 crore as compared to Rs 100.8 crore in the corresponding period of the previous year, a increase of 84 per cent, a company release said here. During the nine-month period ended December 2011, the company reported net sales of Rs 472.9 crore as against Rs 342.0 crore, up 38.3 per cent. Net profit increased by 28.9 per cent to Rs 39 crore from Rs 30.2 crore in the last year. The company's pharma sales rose by 91.8 per cent to Rs 130.4 crore as compared to Rs 68.0 crore in the corresponding quarter of the previous year. Agro sales shot up to Rs 55.1 crore as compared to Rs. 32.8 crore in the corresponding quarter of the previous year, an increase of 67.8 per cent. Commenting on the results, Jai Hiremath, Vice-Chairman & Managing Director, Hikal, said, "We have continued our positive growth in the third quarter of this financial year. Our pharmaceutical and crop protection businesses have grown significantly by 91.8 per cent and 67.8 per cent respectively." "The forecast from our customers for the remaining year is encouraging and we expect improved results for remainder of the year. We look forward to marked improvement in the forthcoming quarter and good growth this financial year, he said.
