Mumbai-based Omkar Speciality Chemicals Limited (OSCL) reported a net profit of Rs 4.78 crore for the quarter ended March 31, 2012 as against a net profit of Rs 2.97 crore for the quarter ended March 31, 2011, OSCL said in a filing to the BSE. This corresponds to 60.66 per cent growth in bottom line. The company is a leader in niche value-added organic as well as inorganic chemicals derived from iodine, molybdenum, selenium, cobalt and tartaric acid.

Net sales of OSCL stood at Rs. 41 crore for the quarter ended March 31, 2012, as against  Rs. 31.14 crore for the corresponding quarter in the previous fiscal.
Consolidated net profit of OSCL for the year ended March 31, 2012  stood at  Rs. 16 crore , as against Rs. 10.18 crore for the previous year.

Commenting on the results, Pravin S. Herlekar, Chairman & MD, Omkar Speciality Chemicals Limited said, “Our company registered a strong growth for the year with the specialty chemicals and API intermediate business growing in excess of 55%. Our Exports have grown from Rs. 11.48 Crs in F.Y 2010-11 to  Rs. 26.08 crore in F.Y 2011-12, registering a whooping growth of 127.18%.”

The company recently concluded couple of acquisitions. It acquired a company in Ratnagiri, with installed capacity of 2800 tonne per annum. This capacity is likely to commission commercial operations from April 2012 onwards. This was followed by acquisition of Lasa Laboratories, which marked its foray in API pharmaceutical industry.