Cipla net rises 11% in first half

MUMBAI, NOV 14: CIPLA Ltd has registered a 11.31 per cent increase in net profits at Rs 40.25 crore for the six months ended September 30, 1997 as against Rs 36.16 crore in the corresponding period of the previous year. Net sales for the period rose 8.1 per cent to touch Rs 268.05 crore.Other income rose to Rs 5.60 crore from Rs 4.42 crore in the previous year. Total expenditure was higher at Rs 213.80 crore.

Analysts said that operating profit margins excluding other income were marginally down due to lower than expected topline growth. This is essentially due to the transport strike and boycott of the company’s products by retail chemists, they added. According to them, though traditionally the first half of the company is better than the second, this year could see a reversal in this trend. Depreciation and provision for taxation were higher at Rs 4 crore and Rs 14 crore respectively. Analysts said the company appears to have provided for full tax for the year.