Dishman Q4 net profit up 29% at Rs 50 cr, to sell stakes in joint venture Schutz Dishman
Dishman Pharmaceuticals and Chemicals BSE 2.33 % today reported a 29.29 per cent increase in consolidated net profit at Rs 49.92 crore for the March quarter.
The company, which today announced plans to sell 50 per cent stake in joint venture Schutz Dishman for three lakh euros to its promoters, had reported a consolidated net profit of Rs 38.61 crore in
January-March period of 2014-15.
Net sales declined 3.55 per cent to Rs 405.67 crore in the quarter as against Rs 420.62 crore a year ago, Dishman Pharmaceuticals and Chemicals said in a BSE filing.
For the full fiscal, net profit rose 42.83 per cent to Rs 171.12 crore compared with Rs 119.81 crore in the previous fiscal, it said.
The company said net sales for the year 2015-16 were up marginally at Rs 1,561.85 crore as against Rs 1,560.35 crore in the pre ..
In March, Dishman had increased stake in its joint venture with Schutz Dishman Biotech,by acquiring 7.5 lakh shares amounting to 50 per cent stake from JV partner Schutz & Co Germany for a consideration of Rs 30 per share aggregating 3 lakh euros.
Post the acquisition, the company's holding in the JV went up to 72.33 per cent from 22.33 per cent. However, the JV posted a net loss of Rs 1.13 crore and sales of Rs 2.93 crore in the quarter ended March.
For 2015- ..