Mumbai: Hikal Ltd has declared a bonus share in the ratio of one share for every two held (1:2).

Hikal's total turnover for the first quarter ended 30 June 2003 has gone up to Rs 32.36 crore as against Rs 25.50 crore for the corresponding quarter in the previous year - an increase of 27 per cent.

The company has posted a net profit of Rs 5.44 crore for the quarter as against Rs 4.53 crore in the corresponding period of the previous year - an increase of 20 per cent.

Hikal, a global growth company, is involved in custom synthesis and manufacturing of active pharmaceutical ingredients, agrochemicals and intermediates.