Cipla Q1 net profit up 10% at Rs 451 cr

Drug major Cipla today posted 10 per cent increase in its consolidated net profit to Rs 451 crore for the first quarter ended June 30, driven by robust sales across various markets.

The company had reported a net profit of Rs 409 crore in the same period previous fiscal.

Total Income from operations stood at Rs 3,939 crore in the quarter, as compared to Rs 3,525 crore in the corresponding period last year, Cipla said in a statement.

"The limited competition launches in the US were in-line with our expectations and we are looking forward to more interesting launches in the coming weeks," Cipla MD and Global CEO Umang Vohra said.

The company continued to retain its focus on quality with EIR (establishment inspection report) received for Goa and Indore plants, he added.

The Mumbai-based company also announced appointment of R Ananthanarayanan as its Global Chief Operating Officer (GCOO), effective today.

In his role at Cipla, he will oversee R&D, manufacturing, supply chain, API business and the key geographies of North America, Europe and emerging markets to help leverage and grow company's generics portfolio and competencies in these markets.

He will report to Vohra.

Shares of the company today ended 0.75 per cent up at Rs 633.40 per unit on the BSE.