Cipla net profit dips 68.9 percent in Q4

Pharmaceutical major Cipla Ltd on Tuesday reported 68.9 percent decline in its net profit to Rs.81 crore in the quarter ended March 31, 2016 as compared to Rs.260 crore in the year-ago period.

In the quarter under review, company's income from operations however grew by 5.6 percent to Rs 3,267 crore, up from Rs.3,093 crore in the corresponding period last year.

Its EBITDA declined 56.9 percent in the January-March quarter to Rs.219 crore, down from Rs.508 crore in the same quarter last year.

Domestic sales increased by 15.9 percent to Rs.1,258 crore during fourth quarter of 2015-16 from Rs.1,086 crore in same quarter last year, the company said in a release.

It said that the growth momentum was in respiratory, anti-infectives, urology and gastro intestinal therapies.

Company's exports of formulations rose 3.2 percent to Rs. 1,744 crore during March quarter in FY16 from Rs.1,690 crore during same quarter of 2014-15 (FY15).

The third-largest pharmaceutical company with a market share of 5.3 percent posted a net profit of Rs.1,506 crore in 2015-16 up 27.5 percent from Rs.1,181 crore in 2014-15.

--IANS

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