Cipla posts net profit of Rs 358 crore in Q2

Drug major Cipla on Wednesday reported a consolidated net profit of Rs 358.06 crore for the quarter ended September 30, 2013.

The company had registered a net profit of Rs 487.95 crore for the corresponding period a year ago, it said in a statement.

"Current year figures include the relevant results of Cipla Medpro and its subsidiaries from the date Cipla Medpro became subsidiary of the company and therefore corresponding figures for the previous period are not comparable," it further said.

Consolidated net sales of the company, however, were at Rs 2,463.18 crore for the quarter under consideration, compared with Rs 2,167.05 crore a year ago.

For the quarter under review, domestic revenues stood at Rs 1,040 crore, from Rs 932 crore last year.

"The growth in domestic revenues was largely on account of growth in anti-asthma, urology and COPD therapy segments," Cipla said.

In the international business segment, exports of formulations for the quarter under consideration stood at Rs 1,219 crore. It was Rs 1,061 crore during the corresponding period of the previous fiscal year (FY13), it added.

Exports of APIs grew to Rs 204 crore for the quarter from Rs 174 crore a year ago.

"The growth in export revenues was primarily due to growth in anti-retroviral, anti-malaria and anti-allergic segments," Cipla said.      

Shares in Cipla, on Wednesday, ended at Rs 412.55 apiece on the BSE, down 2 per cent from the previous close.