Hikal, the outsourcing partner for leading global life sciences companies, today announced its financial results for the third quarter ended 31st December, 2012.

Financial highlights for the Quarter and Nine Months (9M) ended 31st December 2012

• Net sales for the quarter stood at Rs. 152.9 crore as compared to Rs. 185.5 crore in the corresponding quarter of the previous year

• The EBIDTA for this quarter decreased marginally to Rs. 44.1 crore as compared to Rs. 46.2 crore in the corresponding quarter of the previous year

• PBT stood at Rs. 12.73 crore versus Rs. 12.66 crore

• PAT for the quarter was at Rs. 9.0 crore versus Rs. 13.0 crore

• Agro sales at Rs. 63.9 crore as compared to Rs. 55.0 crore in the corresponding quarter of the previous year, a increase of 16%

• Pharma sales at Rs. 89.10 crore as compared to Rs. 130.4 crore in the corresponding quarter of the previous year

• 9M Net Sales were at Rs. 470.8 crore versus Rs. 472.9 crore

• 9M EBIDTA stood at 133.1 crore versus to Rs. 118.8 crore, with an increase of 12% compared to the corresponding period of the previous year.

• 9M PBT was at Rs. 20.6 crore versus Rs. 40.3 crore last year

• 9M PAT at Rs. 16.3 crore versus Rs. 39.0 crore in the last year

• 9M Agro sales increased by 28.5% to Rs. 206.2 crore as compared to Rs. 160.5 crore last year.

• 9M Pharma sales stood at Rs. 264.6 crore as compared to Rs. 312.4 crore

Commenting on the results, Jai Hiremath, Chairman & Managing Director, Hikal. said, "Our Agrochemical division continues to grow on back of increased off-take by our customers. Our Pharmaceutical division has been affected by destocking of inventory by our customers most of which has been pushed into the fourth quarter of this financial year. Even though our EBITDA margins have increased quarter on quarter of this financial year, the net profit is lower due to foreign exchange losses. The forecast from our customers for the rest of the financial year remains positive. Our operational margins are healthy and we expect to continue the growth well into next financial year."