Better sales in the domestic market and exports of bulk drugs helped drug company Cipla post a 29 per cent increase in net profit at Rs 289 crore for the quarter ended December 31, 2009. The company had registered a profit of Rs 223 crore in the corresponding quarter of the previous financial year.
Total sales of the company during the reporting period went up 6 per cent to Rs 1,358 crore from Rs 1,280 crore earlier. Cipla’s sale of formulations in the domestic market witnessed a growth of 14 per cent for the quarter at Rs 659.21 crore from Rs 578.06 crore earlier.
The company has the largest basket of products among all drug companies in the domestic market and has maintained either a first or second ranking in sales for the past few years.
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