Piramal Healthcare Q3 net profit plummets over 85% at Rs 8.5 cr

Piramal Healthcare Q3 net plummets over 85%
Pharma major Piramal Healthcare said it witnessed a dip of 85.87 per cent in consolidated net profits for the third quarter ended December 31, 2011 at Rs 8.52 crore.

The company said that the dip was led by increase in research and development (R&D) expenses and decline in income from investments.

The company had posted the net profit of Rs 60.33 crore during the same period a year ago, said Piramal Healthcare in its filing to the Bombay Stock Exchange on February 2, 2012.

Besides, the total income of the company increased by 15.45 per cent to Rs 617.57 crore during Q3 FY12, as compared to Rs 534.88 crore during Q3 FY11.

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