Piramal Health Q4 net slips loss at Rs 38 cr

The company had posted a net profit of Rs 202 cr for quarter ended March 2011

Piramal Healthcare today said it has posted a consolidated net loss of Rs 38.68 crore for the quarter ended March 31, 2012.

The company had posted a net profit of Rs 202 crore for the quarter ended March 31, 2011, Piramal Healthcare said in a filing to BSE.

Total income of the company stood at Rs 688 crore for the quarter ended March 31, 2012. It was Rs 689.29 crore for the same quarter of 2011.

"The figures for the quarter and year ended March 31, 2012 are not comparable to the previous quarter and year ended March 31, 2011 on account of demerger of NCE division of Piramal Life Sciences Ltd (PLSL) with the company...," Piramal Healthcare said.

The company's Board of Directors have recommended dividend of Rs 17.5 per equity share of face value of Rs 2, at the rate of 875% for the financial year ended March 31, 2012, it added.

During the quarter, Piramal acquired further 5.5% of the issued equity share capital of Vodafone India Ltd from ETHL Communications Holdings Ltd for a cash consideration of Rs 3,006 crore, taking  its total shareholding in VIL to 11%, Piramal Healthcare said.

On March 12, 2012 the company through its subsidiary acquired 94% stake in INDIAREIT Investment Management Co (IIMCO) for a consideration of Rs 108.33 crore, it added.

Shares of Piramal Healthcare today closed at Rs 435.35, down 1.10% from its previous close.