Dishman profit after tax rose whopping 156% in first quarter

Dishman profit after tax rose whopping 156% in first quarterDishman Pharma has reported an increase of 156 per cent to Rs 38.7 crore during the first quarter of the current financial year compared to Rs 15 crore recorded in the same quarter of the previous year.

The revenues of the firm grew 30 per cent to Rs 316.3 crore compared to Rs 243 crore in the same quarter of the previous year. Dishman Pharma's operating margin is expected to be around 24 per cent. The company has made a loss on the forex to the extent of Rs 5 crore.

JR Vyas, MD of Dishman Pharma pointed out that contract research income led to the amazing growth in earnings during the quarter. The company already has other contract research orders for the year and it is aiming to expand its revenues all through the financial year 2013.

Mr. Vyas has also said that company is expecting additional USD 8 million of revenue from the annual Contract Research And Manufacturing Services (CRAM) contract during the current financial year.

“As far as the USD 5 million contract research is concerned we do have other orders to follow during the remaining three quarters. Of course they are variable numbers. I cannot reveal what is exactly the number,” he said.