Exports pump up Cipla net 53%
Buoyed by higher exports and local sales, net profit of pharma firm Cipla rose 52.9% to Rs 170.4 crore for June quarter, reports Our Bureau in Mumbai.
By TNN |
MUMBAI: Buoyed by higher exports and local sales, net profit of pharma firm Cipla rose 52.9% to Rs 170.4 crore for June quarter, reports Our Bureau in Mumbai.
Cipla’s formulation sales during the first quarter of the current fiscal rose 20% to Rs 472.86 crore YoY. Exports (both formulations as well as bulk drugs) contributed 45.4% of the gross sales of the company. During the quarter ended June ’05, exports contributed 42% to gross sales.
The Cipla board on Friday recommended a dividend of Rs 2 for every Rs 2 share for the year ’05-06. All the major drug segments including anti-asthmatics, anti-retroviral and anti-bacterial have shown good performance in the domestic market.
The stock was up 1.1% to close at Rs 220.15 on the BSE.
In the export market, anti retroviral, anti-malarial, anti-asthmatics and hormone-related drugs have contributed heavily to Cipla’s bottom-line.
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Total income (net of excise) increased 31.9% to Rs 885.5 crore for the quarter ended June 30, from Rs 671.2 crore in the year ago period.Operating profit (profit before interest depreciation and tax) of Cipla has also gone up to Rs 250.8 crore for the quarter ended June ’06 compared to Rs 158.3 crore recorded a year ago.
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