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The company had posted a net profit of Rs 60.33 crore for the corresponding period last fiscal.
Consolidated total income of the company stood at Rs 617.57 crore for the quarter ended December 31, 2011. It was Rs 534.86 crore for the quarter ended December, 2010, Piramal Healthcare said in a filing to BSE.
The company said the results are not comparable with corresponding period of last fiscal due to demerger of NCE division of Piramal Life Sciences (PLSL) into it and due to sales of its domestic formulation business and diagnostic services.
Standalone net loss of the company for the third quarter ended December 31,2011 stood at Rs 6.33 crore. The company had a net profit if Rs 92.02 crore for the quarter ended December, 2010.
Piramal Healthcare had sold its domestic formulations business to Abbott Healthcare for a consideration of USD 3.72 billion and its 97.5 holding in Piramal Diagonstic Services to Super Religare Ltd.
Pharma Solutions (CRAMS) business registered strong growth of 57.4 per cent with sales of Rs 367.3 crore in third quarter this fiscal as compared to Rs 233.4 crore in third quarter year ago, the company said.
The revenues from Indian facilities grew by 68.9 per cent to Rs 224 crore for the third quarter this fiscal, it added.
Sale from facilities outside India also registered growth of 42.2 per cent with sales of Rs. 143.3 crore for the quarter under consideration.
This growth has been driven by new early phase development business in Morpeth facility as well as from favourable currency movement, Piramal Healthcare said.
"We have commenced operations of our non-banking finance company – PHL Finance Pvt Ltd Income from Financial Services business which includes PHL Finance and IndiaReit Fund was Rs 17.8 crore for the quarter," it added.
Shares of Piramal Healthcare today closed at Rs 411.50 on BSE, down 1.11 per cent from previous close.
 Limited.JPG)
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