Cipla Q1 net up 10 per cent

Drug major Cipla today posted 10.28 per cent rise in consolidated net profit at Rs 485.35 crore for the first quarter ended June 30, 2013, on account of robust sales growth in domestic as well as export markets.
     
The company had posted a net profit of Rs 440.10 crore in the April-June quarter of 2012-13 fiscal.
     
Net sales in Q1, 2013-14, rose to Rs 2,307.71 crore, compared to Rs 1,932.25 crore in the same period of previous fiscal, Cipla Ltd said in a statement.
     
The Mumbai-based firm said its domestic revenues grew by 16.7 per cent to Rs 1,132 crore during the first quarter, compared to Rs 970 crore in the year-ago period.
     
"The growth in domestic revenues was largely on account of growth in anti-asthma, anti-biotics, infectives and cardiovascular therapy segments," the company said.
     
Exports of formulations in Q1 grew by 27.7 per cent to Rs 1,034 crore, up from Rs 810 crore in Q1, 2012-13.
     
"The growth in export revenues was primarily due to growth in anti-retroviral, anti-asthma and anti-allergic
segments," the drug firm said.
     
Cipla said exports of active pharma ingredients (API) fell by 13.1 per cent to Rs 146 crore, compared to Rs 168 crore during the same period of previous financial year.