Cipla slips after weak Q2 results

Cipla fell 0.66% to Rs 620 at 9:30 IST on BSE after consolidated net profit fell 16.48% to Rs 299 crore on 5.9% rise in net sales to Rs 2630 crore in Q2 September 2014 over Q2 September 2013.

The result was announced after market hours on Thursday, 13 November 2014.

Meanwhile, the BSE Sensex was up 13.25 points, or 0.05%, to 27,953.89.

On BSE, so far 95,000 shares were traded in the counter, compared with an average volume of 2.29 lakh shares in the past one quarter.

The stock hit a high of Rs 629 and a low of Rs 612.55 so far during the day. The stock hit a record high of Rs 671.95 on 31 October 2014. The stock hit a 52-week low of Rs 366.70 on 24 February 2014.

The stock had outperformed the market over the past one month till 13 November 2014, rising 8.30% compared with 5.90% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 42.08% as against Sensex's 7.80% rise.

The large-cap company has an equity capital of Rs 160.58 crore. Face value per share is Rs 2.

On a consolidated basis, Cipla's income from operations grew by 9.3% to Rs 2767 crore in Q2 September 2014 over Q2 September 2013.

Consolidated earnings before interest taxes depreciation and amortization (EBITDA) declined 1.59% to Rs 558 crore in Q2 September 2014 over Q2 September 2013. EBIDTA was reported at 20.2% of income from operations during Q2 September 2014.

Material cost was reported at 36.7% of income from operations in Q2 September 2014 as compared to 37.7% in Q2 September 2013.

Domestic sales grew by 20.5% to Rs 1251 crore in Q2 September 2014, up from Rs 1039 crore in Q2 September 2013. The growth in domestic sales was largely on account of growth in Pediatrics, Respiratory, Spectracare and Urology therapies.

Exports of formulations grew by 0.4% to Rs 1243 crore in Q2 September 2014, up from Rs 1239 crore in Q2 September 2013.

Exports of active pharmaceutical ingredients (APIs) declined to Rs 136 crore in Q2 September 2014, from Rs 206 crore in Q2 September 2013.

Cipla is a global pharmaceutical company. Its portfolio includes 2000 products in 65 therapeutic categories with one quality standard globally.

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