Nicholas Piramal leaps

Nicholas Piramal India advanced 3.50% to Rs 270.50, on reporting 81.50% spurt in net profit for Q3 December 2006.The counter clocked 5.92 lakh shares on BSE. It had surged to a high of Rs 283.90, after the results were declared.The stock advanced before the results; from Rs 240.05 on 10 January, to Rs 261.25 on 17 January 2007, anticipating strong results.

Nicholas Piramal India posted 81.50% spurt in net profit to Rs 43.30 crore for Q3 December 2006, compared to Rs 23.86 crore for Q3 December 2005. Total income increased 14.30% to Rs 408.03 crore (Rs 356.89 crore).

On a consolidated basis, the group posted a profit after prior period items of Rs 55.55 crore for the December 2006 quarter, where as the same was at Rs 9.68 crore for the quarter ended December 2005. Total income increased to Rs 649.70 crore (Rs 406.02 crore).

The consolidated results for the current quarter ended December 2006 include the results of NPIL Pharmaceuticals (UK) and Torcan Chemical, Canada, which were acquired in December 2005 and the Morpeth facility acquired from Pfizer in June 2006. The figures therefore are not strictly comparable.

Nicholas Piramal is a key player in the formulations, diagnostics and vitamins segment of the Indian pharma industry. It also has a major presence in exports.