Piramal Healthcare expects CRAMS business to grow 20% in FY12

03 Aug 2011 Evaluate

Piramal Healthcare, country’s largest drugmaker expects its contract research and manufacturing services (CRAMS) business to grow 20 percent in FY12 from Rs 1,000 crore last year. The drugmaker company also expects its over-the-counter (OTC) business to grow 45-50 percent this fiscal year from Rs 150 crore last year.

The Company’s net profit for the quarter has registered growth of 51.08% at Rs 101.09 crore whereas the same was at Rs 66.91 crore for the quarter ended June 30, 2010. Its total income has dropped by 44.17% at Rs 334.83 crore for the quarter under review whereas the same was at Rs 599.73 crore for the corresponding quarter of the previous year.

However, the company has reported that its standalone numbers for the quarter ended June 30, 2011 are not comparable to the previous quarter ended June 30, 2010 on account of the sale of domestic formulation business.

On Consolidated basis, the Group’s net profit grew by 10.52% at Rs 89.23 crore for the quarter ended June 30, 2011 whereas the same was at Rs 80.74 crore for the quarter ended June 30, 2010. Its total Income has dropped by 40.90% at Rs 511.96 crore for the quarter whereas the same was at Rs 866.22 crore for the corresponding quarter of the previous fiscal.

Further, the company has reported that its consolidated numbers for the quarter ended June 30, 2011 are not comparable to the previous quarter on account of the sale of Domestic formulation business and Diagnostics Services.

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