Cipla Q1 net up 58 pc at Rs 400 cr on robust sales

The company's domestic revenues rose by 30.4 per cent at Rs 970 crore during the first quarter ended.

Written by Agencies | New Delhi | Published: July 31, 2012 8:11:31 pm

Drug major Cipla today posted 58.19 per cent jump in net profit at Rs 400.76 crore for the quarter ended June 30,2012,on the back of robust sales in both domestic and international markets.

The company had posted a net profit of Rs 253.34 for the same period of previous fiscal,Cipla said in a statement.

Net sales of the company rose to Rs 1,917.38 crore during the reported quarter compared to Rs 1,550.33 crore in the same period of 2011-12 fiscal.

The company’s domestic revenues rose by 30.4 per cent at Rs 970 crore during the first quarter ended June 30,compared to Rs 744 crore during the same period of 2011-12 fiscal.

“The growth in domestic revenues was largely on account of growth in anti-asthama and antibiotics therapy segments,” the company said.

Cipla’s international business sales grew by 23 per cent to Rs 810 crore during the June quarter,compared to Rs 659 crore in the same period of 2011-12 fiscal.

“The growth in export revenues was primarily due to growth in anti-depressants and anti-cancer segments,” Cipla said.

However,the company’s active pharmaceutical ingredient (API) sales declined by 2 per cent to Rs 168 crore during the first quarter ended June 30,2012,as against Rs 171 crore during June quarter of 2011-12 fiscal.

Shares of Cipla today closed at Rs 338.55 apiece on the BSE,up 1.67 per cent from its previous close.

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