Hikal's Q4 net up by 23%

Mumbai-based Hikal has posted a 23 per cent growth in net profit at Rs 11.52 crore for the fourth quarter ended March 31, 2005, compared with Rs 9.37 crore in the corresponding period of the previous year.

Total turnover was up by 31 per cent at Rs 54.41 crore for the quarter from Rs 41.43 crore for the corresponding quarter in 2003-04.

The company's net profit increased 23 per cent to Rs. 34.11 crore for the year from Rs 27.72 crore in the previous year, while total turnover for the full year rose 29 per cent to Rs 187.00 crore against Rs 145.23 crore last year.

Hikal has declared a final dividend of 65 per cent, including an interim dividend of 30 per cent declared on 24th January, 2005. On a consolidated basis, the total turnover of Hikal was Rs 333.13 crore, which includes the turnover of its subsidiary"" Marsing & Co Ltd for seven months from 1st September 2004 to 31st March 2005.

Hikal is improving the profitability of Marsing over the next year by rationalisation the product mix into higher margin products, optimisation of costs of operations, and moving up the value chain.

The company is planning to raise funds through a fresh issue of capital up to Rs 100 crore for meeting its expansion and diversification.