Dishman, Ashapura Minechem & Lupin results

Dishman net up 55% at Rs 36 crore

Dishman Pharmaceuticals and Chemicals Ltd has registered a 55 per cent increase in net profit for the first half year ended September 30. The consolidated net profit stood at Rs 35.68 crore in the first half of FY07 as compared with Rs 23.01 crore in the same period last year.

The net sales for the first half was Rs 199.21 crore as against Rs 129.44 crore in the same period last year, recording a rise of 54 per cent.

The consolidated profit before tax for the first half was Rs 40.30 crore against the Rs 25.07 crore last year, recording an increase of 60 per cent.

The results include those of Dishman Pharma and its subsidiaries.

The quarterly and half yearly results include those of Carbogenamcis AG, the newly acquired company by Dishman group.

Ashapura Minechem net up 97%

Ashapura Minechem Ltd, a flagship company of Rs 2,000 crore Ashapura group, the largest miner, processor and exporter of industrial minerals in the country, has witnessed a 97 per cent increase in net profit at Rs 17.01 crore in the second quarter ended September 30 as compared with Rs 8.62 crore in the corresponding period last year.

However, total income in the same period marginally declined to Rs 118.98 crore from Rs 130.48 crore last year. Earnings per share (EPS) went up to Rs 5.16 as against Rs 2.69 last year. The company is extending its activities in new geographies, such as Malaysia, Nigeria and Belgium. The company is setting up a bentonite processing plant in Belgium and a processing plant for baryties in Nigeria with an investment of more than Rs 100 crore.

The processing plant for baryties in Nigeria is a 50:50 joint venture with a local company, Immo Energy.

In addition, the company has decided to set up a bulk importing, grinding and packaging facility in Antwerp for processing bentonite, kaolin lumps, bleaching clay and shipping them to various European destinations. The company has invested $3 million in the Antwerp project and it is expected to commence by June next.

The spurt in net profit is mainly attributed to decline in freight rates and upward revision in product prices.

Lupin net soars 29% at Rs 58 crore

Lupin has posted 29 per cent growth in net profits at Rs 58.3 crore for the quarter ended September 30 as compared with Rs 45.55 crore for the corresponding quarter last year.

During the quarter under review, the company's total income shot up by 24 per cent to 512.09 crore from Rs 415.55 crore last year.

During the quarter, the company's formulations business grew by 33 per cent, taking the mix of formulations to 61 per cent from the earlier 56 per cent of total sales. The rise in gross sales for the first half ended September 2006 was 26 per cent at Rs 992 crore from Rs 785 crore for the corresponding period last year.

The gross profit of the company for the first half of the year ended September 30 stood at Rs 183 crore.