Cipla Q2 net profit up 62% at Rs 500 cr

Nov 05 2012, 17:32 IST
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Cipla's domestic revenues growth was largely on account of rise in sales of anti-asthma, anti-biotics segments.  (Reuters) Cipla's domestic revenues growth was largely on account of rise in sales of anti-asthma, anti-biotics segments. (Reuters)
SummaryCipla's domestic revenue was largely on account of rise in sales of anti-asthma, anti-biotics segments.

Drug firm Cipla Ltd today said its consolidated net profit rose by 61.83 per cent to Rs 500.01 crore for the second quarter ended September 30, 2012, due to robust sales in domestic and international markets.

The company had posted a net profit of Rs 308.97 crore during the corresponding period of previous fiscal, Cipla said in a filing to the BSE.

Net sales of the company rose by 23.90 per cent to Rs 2,145.87 crore during the second quarter, as against Rs 1,731.83 crore in the same period of 2011-12 fiscal. For the six months ended September 30, 2012, the company posted a net profit of Rs 900.77 crore, compared to Rs 562.31 crore during the same period of previous fiscal. The company said domestic revenues grew by 13.5 per cent to Rs 962 crore during the second quarter, as against Rs 847 crore during the same period of 2011-12 fiscal.

"The growth in domestic revenues was largely on account of rise in sales of anti- asthma, anti-biotics and cardiovascular therapy segments," it said.

During the quarter under review, the company's formulation exports grew by 38.2 per cent to Rs 1,039 crore, compared to Rs 752 crore during the same period of previous fiscal.

"The growth in export revenues was primarily due to growth in anti-depressants, anti-ulcerant and anti-asthma segments," the company added.

Shares of Cipla today closed at Rs 380.45 on the BSE, up 0.87 per cent from its previous close.

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