Aventis Pharma Q4 net dips 66% to Rs 36 cr

Aventis Pharma today said its net profit declined 65.58% to Rs 36.10 crore for the fourth quarter ended December 31, due to the acquisition of nutraceutical formulations business of Universal Medicare.

The company had posted net profit of Rs 104.90 crore in the October-December period last year, Aventis Pharma said in a filing to the Bombay Stock Exchange (BSE).

Net sales of the company rose to Rs 337.90 crore during the fourth quarter, as against Rs 286.50 crore in the same period previous year.

Last August, Aventis had entered into a definitive pact with Mumbai-based Universal to acquire its business of marketing and distribution of branded nutraceutical formulations in India.

The transaction closed on November 3.

"The profit for the quarter ended December 31, 2011 has been impacted due to the costs relating to the above acquisition and lower interest income as a result of the investment," the company said.

For the entire 2011, the company posted net profit of Rs 191.20 crore, as compared to Rs 230.70 crore in 2010.

Net sales of the company for the year were Rs 1,229.70 crore, as against Rs 1,085 crore in 2010.

The company's board, which met today, recommended a final dividend of Rs 29 per equity share of Rs 10 for 2011.

Shares of Aventis Pharma today closed at Rs 2,307 on the BSE, up 0.96% from its previous close.