Nicholas Q1 consolidated net at Rs 43cr

Nicholas Piramal India reported a consolidated profit of Rs 43.43 crore for the first quarter ended June 30, 2007 as against Rs 53.86 crore in Q1FY07.

According to a release issued to the BSE today, total income increased to Rs 610.09 crore from Rs 522.58 crore in Q1FY07.

"The results for the quarter ended June 30, 2007 are not strictly comparable with the figures of the corresponding period of the previous year as the current quarter's figure include the operations of Morpeth manufacturing facility acquired from Pfizer on June 19, 2006 which was not included in the consolidated results for the quarter ended June 30, 2006," the release added.

The company, on a stand-alone basis, posted a profit after tax of Rs 34.39 crore for the quarter ended June 30, 2007 as against Rs 51 crore in Q1FY07. Total income dropped to Rs 397.09 crore from Rs 401.89 crore in Q1FY07.

The board today cleared a proposal to merge a wholly-owned subsidiary, Nicholas Piramal Consumer Products (formerly Boots Piramal Healthcare), with the company, the release added.