Dishman Pharma Q1 net up over two fold at Rs 38.70 cr

Dishman Pharmaceuticals and Chemicals today reported an over two fold increase in its consolidated net profit to Rs 38.70 crore for the quarter ended June 30, 2012 mainly on account of robust performance in its  contract research and manufacturing services segment.

The company had posted a net profit of Rs 15.12 crore for the corresponding period previous fiscal.

Consolidated net sales of the company also rose to Rs 315.27 crore for the quarter under consideration from Rs 237.20 crore for the same period year ago, Dishman Pharmaceuticals and Chemicals said in a BSE filing.

In another filing to the BSE, the company said its Board of Directors has recommended payment of dividend at the rate of 60% on the paid up equity share capital of Rs 16,13,94,272  (Rs 1.20 per equity share of Rs 2 each) for the financial year 2011-12.

Shares of Dishman Pharmaceuticals and Chemicals today closed at Rs 69.70 on the BSE, up 6.74% from the previous close.