Cipla posts Q2 net profit at Rs 358 cr

Company posted a net profit of Rs 488 crore for the corresponding period of previous fiscal

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

The company had posted a net profit of Rs 487.95 crore for the corresponding period of previous fiscal, Cipla 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 added.

Consolidated net sales of the company however grew to Rs 2,463.18 crore for the quarter under consideration. It was Rs 2,167.05 crore for the same period year ago.

For the second quarter ended September 30, 2013, domestic revenues stood at Rs 1,040 crore during Q2 of FY14. It was Rs 932 crore during the same period year ago.

"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 previous fiscal, it added.

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

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

Shares of Cipla Ltd today closed at Rs 412.55 apiece on the BSE, down 2% from previous close.