Lupin, MRF, Nirma & PTC results

CORPORATE SCORECARD

Lupin net dips 39%

Lupin has posted a net profit of Rs 24.5 crore for the quarter ended December 31, 2004, down 38.8 per cent compared with Rs 40.04 crore in the corresponding quarter previous year.

The company attributed the dip in its net profit to an increase in research and development expenditure (excluding depreciation) that increased from Rs 9.9 crore to Rs 18.2 crore during the quarter. Net sales for the quarter increased by 10 per cent to Rs 279.6 crore from Rs 254.3 crore in the same quarter pevious year. The domestic revenues increased by 11 per cent to Rs 146.4 crore from Rs 131.4 crore.

Export revenues increased by 8 per cent to Rs 133.2 crore. Earnings before interest, depreciation, tax & amortization (EBIDTA) for the quarter stood at Rs 41.4 crore (Rs 76.4 crore).

Interest and finance charges for the quarter were lower at Rs 7.1 crore against Rs 13.2 crore in the corresponding quarter previous year. The company filed two ANDAs and four DMFs with the USFDA.

Kamal Sharma, managing director said, "The company's focus on R&D continues and the company is on track to achieve its target ANDA and DMF filings in the advanced markets. Simultaneously, the company continues to invest in building its branded business in the US."

For the nine months ended December 31, 2004, Lupin recorded a net sales growth of 3 per cent at Rs 871.9 crore (Rs 846.4 crore). Net profit stood at Rs 62.6 crore against Rs 69 crore in the corresponding nine months of the previous year.

MRF net dips 32%

MRF's net profit for the quarter ended December 2004 fell by 32 per cent to Rs 11.30 crore from the previous year's Rs 16.62 crore mainly on account of the firm price trend in its petroleum-based inputs. Net sales for the quarter was Rs 686.93 crore, higher by 9.33 per cent compared with previous quarter's Rs 628.30 crore.

Raw material consumption in the quarter increased by 22.77 per cent to Rs 491.18 crore from Rs 400.07 crore in the year-ago period.

Philip Eapen, executive director-marketing, said the increase in the price of petroleum-based inputs such as the tyre's nylon casing, carbon black and rubber chemicals could not be passed on to customers because of the intense competition in the tyre industry.

Nirma net jumps 55%

The Ahmedabad-based detergent major Nirma Limited has posted a 54.93 per cent jump in net profit for the third quarter of the current financial year at Rs 70.46 crore against Rs 45.46 crore of net profit posted in the corresponding period of the previous year.

The company has posted a sales turnover of Rs 605.55 crore in the quarter ended December, 2004 against sales of Rs 582.73 crore reported in the third quarter of the last financial year, thus hiking its sales by over 30 per cent in commensurate to hike in its net profit.

Gross profit was reported at Rs 137.86 crore in the third quarter against gross profit of Rs 114.31 crore reported in the period during September-December, 2003.

Earning per share, which was at 5.72 in the third quarter of the last financial year, has increased to 8. Nirma is also planning to setup a cement manufacturing plant at Bhavnagar, close to its existing facility.

PTC net dips 39%

PTC India Ltd, formerly Power Trading Corporation, has recorded a 39 per cent decline in net profit at Rs 6.7 crore for the third quarter of the current fiscal compared with Rs 10.96 crore in the year-ago period.

Net sales also dipped 16 per cent to Rs 604.27 crore during October-December 2004 against Rs 720.36 crore in the corresponding period previous fiscal, PTC India informed the National Stock Exchange. The company had posted a net profit of Rs 32.48 crore in 2003-04 over net sales of Rs 2371.82 crore.