Hikal net profit declines by 67% in Q4

Indian company Hikal, a crop protection products and pharmaceuticals maker, has recently reported 66.8 per cent decline in net profit at Rs 3.07 crore for the fourth March 31, 2014 due to higher tax expense.

Its standalone net sales, however, improved by 20 per cent to Rs. 227.54 crore from Rs. 189.64 crore.

The consolidated net sale for the year ended March 2014 increased by 25.6 per cent to Rs. 829 crore from Rs. 660 crore in the previous year.

Its pharmaceuticals sales increased by 27.9 per cent to Rs. 475.44 crore from Rs. 371.61 crore and that of crop protection products moved up by 22.5 per cent to Rs. 353.77 crore from Rs. 288.81 crore.

The crop protection products moved up by 22.5 per cent to Rs. 353.77 crore from Rs. 288.81 crore,accounting for 42.7 per cent of total net sales.

The pharmaceuticals sales increased by 27.9 per cent to Rs. 475.44 crore from Rs. 371.61 crore, contributing 57.3 per cent to its total net sales.

Its other income went up to Rs. 34.06 crore from Rs. 6.30 crore.

The foreign exchange loss declined to Rs. 17.92 crore from Rs. 48.43 crore in the previous year.

These items pushed its net profit by 153 per cent to Rs. 63.90 crore from Rs. 25.25 crore in the previous year.