Highlights of Q2 performance
For the quarter ended September’08, the net sales registered a moderate growth of23% to Rs 1354.69 crore on the back of 48% rise in the exports formulationbusiness to Rs 602.35 crore.. Operating profit margins narrowed by 660 bps to15.6% on the back of forex exchange losses of Rs 104.50 crore (as against forexgain of Rs 19.96 crore) and led operating profit fall of Rs 14% to Rs 211.01 crore.Resultantly, operating profit fell by 14% to Rs 211.01 crore.Other income for the quarter reported a dip of 23% to Rs 16.87 crore. The interestrose by 136% to Rs 5.59 crore and depreciation went up by 24% to Rs 40.61 crore,respectively, the PBT reported a fall of 21% to Rs 181.68 crore. As the effective taxrate fell by 70 bps to 16.7% resulting net profit to decline by 21% to Rs 151.43crore
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