Dishman Net down 94%

Dishaman Pharmaceuticals & Chemicals Ltd has posted a consolidated net profit of Rs 1.74 crore for the quarter ended December 31, 2010, down 94.65 per cent from the same period last fiscal when the company had posted a net profit of Rs 32.53 crore.

Dishman said in a statement that the performance of the company is adversely impacted owing to a lower than expected performance of the Swiss subsidiary Carbogen Amcis AG and adverse currency movement, as well as rising material costs.

The consolidated turnover of the company increased by 4.26 per cent to Rs 231.76 crores as against Rs 222.30 crores in the corresponding period previous year. The raw material costs for the quarter nearly doubled from Rs 41.73 crore to Rs 83.46 crore. While the contract research and manufacturing segment (CRAMS) posted a dip in revenues to Rs 152.17 crore from Rs 160.72 crore, the marketable molecules segment recorded a rise in revenues to Rs 73.58 crore from Rs 61.57 crore.