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Thursday, Jan 20, 2005

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Shasun Chemicals Q3 net up 60 pc

Our Bureau

Chennai , Jan. 19

SHASUN Chemicals and Drugs Ltd has reported a net profit of Rs 9.01 crore for the third quarter of the current year, compared with Rs 5.50 crore for the same period last year — a 60 per cent rise.

Revenues for the quarter was up at Rs 78.24 crore, against Rs 70.83 crore in Q3 last year.

In the nine months ended December 31, 2004, Shasun made a net profit of Rs 18.63 crore, against Rs 13.58 crore in the same period last year — an increase of 37 per cent.

Higher export sales at Rs 163 crore (Rs 130 crore) contributed to the rise in turnover, which stood at Rs 231.53 crore (Rs 199.70 crore).

Shasun's officials told Business Line that the company expects revenues from contract research and manufacturing services (CRAMS) business to double to about Rs 40 crore in the current financial year.

The company has targeted a 20 per cent growth in turnover for the full year. Its turnover in 2003-04 was Rs 277.42 crore.

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