Cipla is trading higher by 4% at Rs 427 on reporting better than expected 32% year-on-year (yoy) growth in net profit at Rs 485 crore for the quarter ended June 30, 2013 (Q1 FY14), on back of higher other income and net sales. The pharmaceutical company had profit of Rs 367 crore in year ago quarter.
The company’s net sales for the quarter grew by 19.4% yoy to Rs 2,308 crore, mainly driven by the domestic and exports, which posted a growth of 16.7% and 20.6% yoy during the period. The other income during the quarter was at Rs 246 crore against Rs 132 crore in Q1FY13.
Analyst on an average had expected net profit of Rs 338 crore on back of Rs 2,139 crore net sales for the quarter.
OPM (excluding technical knowhow fees) came in line with expectation at 22.2%, down by 410bp from the last corresponding period, mainly on back of the 46.5%yoy rise in the employee cost, says analyst at Angel Broking in note.
The stock opened at Rs 427 and hit a high of Rs 429 on BSE. A combined around 1.32 million shares changed hand on the counter till 0955 hours on BSE and NSE.
The company’s net sales for the quarter grew by 19.4% yoy to Rs 2,308 crore, mainly driven by the domestic and exports, which posted a growth of 16.7% and 20.6% yoy during the period. The other income during the quarter was at Rs 246 crore against Rs 132 crore in Q1FY13.
Analyst on an average had expected net profit of Rs 338 crore on back of Rs 2,139 crore net sales for the quarter.
OPM (excluding technical knowhow fees) came in line with expectation at 22.2%, down by 410bp from the last corresponding period, mainly on back of the 46.5%yoy rise in the employee cost, says analyst at Angel Broking in note.
The stock opened at Rs 427 and hit a high of Rs 429 on BSE. A combined around 1.32 million shares changed hand on the counter till 0955 hours on BSE and NSE.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%