Nicholas Piramal Q3 growth up 76.1 per cent

Mumbai: Nicholas Piramal India Limited (NPIL) registered a 19.3 per cent growth in Net Sales and 76.1 per cent growth in Net Profit for the Third Quarter of FY 2003-04 (Q3 FY04). Net Sales stood at Rs. 2,620.2 million (Q3 FY03: Rs. 2,195.5 million). Operating Profit Before Interest, Depreciation and Tax grew 26.9 per cent to Rs. 548.1 million in Q3 FY04 from Rs. 432.4 million for the corresponding quarter in FY 03. Net Profit grew to Rs. 373.2 million compared to Rs. 211.9 million in Q3 FY03.

NPIL's Domestic Formulations business outperformed the market for the seventh consecutive quarter, growing 13.4 per cent against an industry growth rate of 5.1 per cent (ORG-MARG MAT Dec-03). Top-10 Brands, formed 36 per cent of the portfolio.

In Q3 FY04, NPIL delivered impressive growth in therapeutic areas such as Respiratory (19.1 per cent), CVS (23.9 per cent), CNS (13.4 per cent), Anti-Diabetic (34.2 per cent), Dermatology (33.7 per cent) and NSAIDS (17.9 per cent) over the corresponding quarter for the previous year.

During Q3 FY04, NPIL also acquired 100per cent ownership of Sarabhai Piramal Pharmaceuticals Private Limited (SPPL).

This has given NPIL strategic advantages in its brands portfolio, therapeutic area ranking, doctors' coverage and field force expansion. SPPL has 12 Brands with Sales over Rs. 50 million, forming over 60per cent of its Sales. SPPL's leading brands include Pentids, Esgipyrin, Tossex, Mazetol, Resteclin and Suganril. The buyout increases NPIL's domestic formulations market share to 4.4%, up from the current 3.4%, bringing it to 4th rank. NPIL will also improve its ranks in therapeutic segments such as Pain Management (No.1 from No.7), CNS (No.2 from No.4), Respiratory (No. 3 from No.4) and Hormonal (No. 5 from No. 8) (source: ORG-MARG data). On the market coverage front, NPIL's field force will now increase to 2,805 up from 2,010 at present - making NPIL the distinct leader in India market reach.