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Knoll Pharma net profit declines

MUMBAI: Knoll Pharmaceuticals Ltd has registered a fall in net profit at Rs 9.18 crore in the quarter ended March 31, 2001 against Rs 11.85 crore in the same period the previous year.

According to a press release, the results have been affected due to price reduction in some formulations and delay in getting compensatory price increase in some price controlled formulations.

The board of directors has recommended a final dividend of Rs 15 per share for the year ended December 31, 2000 on a capital of Rs 16.20 crore, which if approved will be payable on or before July 11 to shareholders.

The company has provided Rs 1.14 crore as additional gratuity charge for the quarter which is included in payroll cost.

Net sales increased to Rs 81.30 crore (Rs 73.07 crore). Other income dropped to Rs 2.48 crore (Rs 3.45 crore). Total expenditure rose to Rs 70.10 crore (Rs 60.84 crore).

Interest was at Rs 6 lakh while depreciation was at Rs 1.14 crore (Rs 1.21 crore). Provision for taxation has increased to Rs 3.30 crore (Rs 2.56 crore).

Earnings per share for the quarter ended March 31, 2001 was at Rs 5.67 (Rs 7.31). -- Our Bureau