Cipla posts Q4 net at Rs 1.53 bn on account of robust sales in key markets

Drug major Cipla on Tuesday reported a consolidated net profit of Rs 1.5325 billion for the quarter ended March 31, 2018 mainly on account of robust sales in key markets and reduction in expenses.

The company had posted a net loss of Rs 627.9 million during January-March, 2016-17, Cipla said in a BSE filing.

Total income from operations stood at Rs 36.9797 billion. It was Rs 35.82 billion for the same period a year ago.

For entire 2017-18, the company posted a net profit of Rs 14.1657 billion. It was Rs 10.3542 billion for the previous year.

Total income from operations during 2017-18 stood at Rs 152.1925 billion. It was Rs 146.3024 billion in the preceding year.

"This financial year (2017-18) our focus remained on strengthening our portfolio and deepening our presence in priority markets," Cipla MD and Global CEO Umang Vohra said.

The company's efforts on cost and efficiency improvement helped it deliver the full year margin ahead of its guidance range, he added.

"Our focus for next year will be to continue our growth trajectory in key markets and investments in portfolio for sustainable growth," Vohra said.

In a separate filing, Cipla said its board has approved raising up to Rs 40 billion via various instruments including non-convertible debentures.

The company's board has recommended a final dividend of Rs 3 per equity share for 2017-18, Cipla said.

Shares of Cipla on Tuesday closed at Rs 524.35 per scrip on BSE, up 0.88 per cent from its previous close.