Net profit at pharma multinational Hoechst Marion Roussel (HMR) has dropped 62.7 per cent to Rs 5.4 crore in the first quarter of 1999-2000. Net sales dipped 9 per cent to Rs 133.5 crore.
However, after making adjustments for an exceptional expenditure of Rs 3.7 crore for the quarter under review and exceptional income of Rs 6.3 crore in the first quarter last year, the company's profit before tax saw a 16 per cent gain over the corresponding period last year, chairman Vijay Mallya said at the annual general meeting here yesterday.
Total expenditure during the first quarter of 1999-2000, inclusive of exceptional expenditure, stood at Rs 123.7 crore, down from Rs 132.9 crore in the corresponding period last year. Other income dropped 63 per cent to Rs 3.2 crore. Mallya said
