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Hikal reports fall in profits

7:53 AM MST | November 6, 2012 | Deepti Ramesh

Hikal (Mumbai), an outsourcing partner to companies in the pharma, biotech, agchem, and specialty chemical industries, has recorded a 81.9% fall in net profits for its fiscal second-quarter, ended 30 September 2012, compared with the year-ago period, to 20 million Indian rupees ($370,000). Second-quarter sales increased 5.5%, to Rs1.53 billion. Hikal’s pharmaceutical business recorded a 8.5% fall in second-quarter sales, to Rs800 million. The crop protection business of the company reported a 26.7% increase in second-quarter sales, to Rs730 million...

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