Piramal Healthcare today posted a consolidated net profit slipped by 55.71% at Rs 60.33 crore for the third quarter ended December 31, 2010.
The company had registered a net profit of Rs 136.21 crore during the same period previous fiscal, Piramal Healthcare (PHL) said in a filing to the Bombay Stock Exchange (BSE).
Net sales of the company stood at Rs 534.86 crore for the third quarter ended December 31, 2010. The same was at Rs 923.94 crore during the same period last fiscal.
The figures of the quarter and the nine months ended December 31, 2010 are not comparable to the previous quarter and nine months ended December 31, 2009 on account of the sale of company's domestic formulation business and diagnostics services.
The company's sales from pharma solutions business stood at Rs 233.4 crore for the third quarter.
During the same period last fiscal, its sales from pharma solutions business was at Rs 188.7 crore.
The firm's sales from Piramal Critical Care business stood at Rs 99.5 crore on the back of strong sevoflurane sales. Its Over-The-Counter (OTC) business posted sales of Rs 38 crore for the third quarter ended December 31, 2010.
Earlier in May 2010, PHL announced the sale of its domestic formulations business to US-based firm Abbott Laboratories for $3.8 billion, including an upfront consideration of $2.2 billion, which was paid in September 2010.
Later in June, 2010, the company sold its share in its subsidiary Piramal Diagnostic Services to Super Religare Laboratories for Rs 600 crore.
Shares of Piramal Healthcare today closed at Rs 419.80 on BSE, down 0.24% from its previous close.
