Drug major Cipla today reported an over two-fold jump in its consolidated net profit to Rs 650.61 crore for the quarter ended June 30, 2015 mainly on account of robust sales.
The company had posted a net profit of Rs 294.58 crore for the corresponding period of the previous fiscal, Cipla said in a statement.
Consolidated total income from operations also rose to Rs 3,852.77 crore for the quarter under consideration as against Rs 2,720 crore for the same period a year ago.
“The results for the current period includes one-off revenue from the US market,” Cipla said without specifying the details.
Domestic sales grew by 8.4 per cent to Rs 1,397 crore during the first quarter (Q1) of FY16, up from Rs 1,289 crore during Q1 of FY15. The growth in domestic sales was largely on account of growth in respiratory, anti-infectives, cardiac and gastro intestinal therapies, Cipla said.
In the company’s international business, exports of formulations increased by 78.5 per cent to Rs 2,174 crore during the first quarter of the current fiscal as against Rs 1,218 crore during the same period a year ago.
Exports of APIs increased by 47 per cent to Rs 206 crore during Q1 of FY16 from Rs 140 crore during Q1 of FY15, it added.
The outlook for FY16 remains strong with the company expecting a 20 per cent topline growth in the fiscal year. It is also evaluating reinvestment options in R&D, Consumer Healthcare and Biologics, Cipla said.
Cipla shares today closed 2.06 per cent up at Rs 740.50 apiece on the BSE.