Other income stood at Rs 63 lakh compared to Rs 1.21 crore in Q3FY20. Interest cost was Rs 33 lakh compared to Rs 79 lakh. Depreciation rose 2% to Rs 6.5 crore. PBT before EO was up 28% to Rs 60.19 crore. The company reported EO income of Rs 72 lakh compared to nil in the corresponding previous year period. PBT after EO was up 30% to Rs 60.91 crore. During the quarter the Group has concluded transfer and assignment of its leasehold rights in the property situated at Jalna (BT park), Maharashtra with a tripartite agreement with Maharashtra Industrial Development Corporation ('MIDC') and the transferees to relinquish its rights on the said leasehold property. Accordingly, the gain on the transaction aggregating Rs 72 lakh is included under "Other Income".

Tax expenses were up 35% to Rs 16.6 crore owing to which the company's net profit reported was up 28% to Rs 44.3 crore. Further considering minority interest, Bottomline of the company increased 28% to Rs 43.09 crore.

On 11 January 2021, the Group completed the acquisition of 51% of the paid up equity share capital in SciTech Specialties Private Limited ('SSPL') for a total consideration of Rs 31.63 crore. SSPL is technology based contract manufacturing company specializing in effervescent granules and tablets.

Consolidated performance for the nine months ended Dec20

For nine months ended Dec20, net sales rose 10% to Rs 368.63 crore. The company operating margins increased 190 bps to 47.9%. As a result operating profits rose 15% to Rs 176.63 crore.

Other income rose 70% to Rs 6.44 crore. Other income for 9MFY21 includes Rs. 4.07 crore of grant received from the Government of United States of America ("USA") by subsidiaries Cal India Foods International (U.S.A.), Advanced Supplementary Technologies Corporation (U.S.A.) and Enzyme Innovation, Inc. (U.S.A.) under CARES Act ("Act") as Paycheck Protection Program. Interest cost was down 50% to Rs 1.17 crore. Depreciation rose 5% to Rs 20.02 crore. PBT was up 19% to Rs 161.88 crore. The company reported EO income of Rs 72 lakh compared to nil in the corresponding previous year period. PBT after EO was up 20% to Rs 162.6 crore.

The effective tax rate increased to 27.6% from 26.2% owing to which the company's net profit rose 17% at Rs 117.67 crore. Further considering minority interest, Bottomline of the company rose 17% to Rs 114.52 crore.

The scrip is currently trading at Rs 368