Mumbai, Jan 17: Rhone-Poulenc India Ltd, now a Nicholas Pirmal group company, has posted a 53 per cent rise in net profit of Rs 9.79 crore for the third quarter ended December 2000, compared to Rs 6.41 crore in the corresponding quarter last year. Net sales have increased by 18 per cent to Rs 61.04 crore from Rs 51.74 crore for the same period last year.The company informed the BSE that the other income increased to Rs 3.29 crore from Rs 2.14 crore over the corresponding quarter.
Rhone-Poulenc India, earlier an Aventis group company, was acquired by Nicholas Piramal through a 40 per cent stake following the global merger of Rhone Poulence and Hoechst Marion.
Nicholas Piramal acquired the stake for a consideration of Rs 157.50 crore from Aventis Pharma. The company had also made an open offer to the minority shareholders for an additional 20 per cent stake in RPIL at the same price that is Rs 875 per share, the process of which currently on.
The Rhone-Poulenc stock at the Bombay Stock Exchange (BSE) opened at Rs 759.75 and touched Rs 772 before touching an intra day low of Rs 758 and closing at Rs 765 to end the day.
Rhone-Poulence India has two manufacturing facilities - one at Bhandup and the other at Paithan in Maharashtra - and has a well established presence in cough, anti-emetic, anti-epileptic, anti-diarrhoeal and anti-histamine segments.
Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.
