Cipla net profit for March quarter jumps 36%
Cipla, India's second largest pharma company, has reported 36% increase in net profit in the quarter ended March.
MUMBAI: Cipla, India's second largest pharma company, has reported 36% increase in net profit in the quarter ended March led by robust growth in income from exports and decline in raw material cost.
In January-March, the company reported net profit of Rs 291 crore compared with Rs 214 crore a year earlier.
The pharma major, whose income for fiscal 2011-12 crossed Rs 7,000 crore mark, reported total sales of Rs 1,838 crore in the fourth quarter compared with Rs 1,637 crore a year ago. Its revenue from exports stood at Rs 855 crore against Rs 742 crore a year ago. Income from exports surpassed income from domestic business during the quarter.
Domestic formulation business grew 15% year-on-year to Rs 753 crore during the quarter. Cipla, which drastically cut prices of key cancer drugs, said it will lower prices of other cancer drugs too.
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