Piramal Health Q1 net profit drops significantly to Rs 4 cr

Piramal Healthcare  's consolidated net profit fell significantly to Rs 4 crore in the quarter ended June 2012 as against Rs 89 crore in a year ago period due to sharp spike in finance cost and exceptional expenses.

Consolidated net sales increased 63.3% to Rs 710.3 crore from Rs 435 crore during the same period.

Finance cost jumped to Rs 87.52 crore from Rs 10.99 crore while other income declined to Rs 57.50 crore from Rs 76.39 crore year-on-year.

Piramal Healthcare has reported exceptional expenses of Rs 126 crore in the first quarter of FY13.

Revenues from pharmaceuticals manufacturing and services segment rose to Rs 672.90 crore from Rs 441.47 crore. Income from strategic investments went up to Rs 74.34 crore from Rs 70.48 crore YoY.