Cipla Q2 net profit at Rs 299 cr

Drug major Cipla today posted a consolidated net profit of Rs 298.68 crore for the quarter ended September 30, 2014, on account of robust sales in domestic market.
The company had posted a net profit of Rs 358.06 crore during the same period of previous fiscal.
Net sales of the company stood at Rs 2,629.81 crore for the second quarter, while the same stood at Rs 2,483.47 crore during the same period of previous fiscal, Cipla Ltd said in a filing to the BSE.
The company said results for the quarter were not comparable to the previous fiscal figures due to Mabpharm becoming a subsidiary of the company in July.

The Mumbai-based firm said its domestic sales during the second quarter grew by 20.5 per cent to Rs 1,251 crore, up from Rs 1,039 cr during the same period of previous fiscal.
"The growth in domestic sales was largely on account of growth in pediatrics, respiratory, spectracare and and urology therapies," it added.

The company said its exports of formulations grew by 0.4 per cent to Rs 1,243 crore during the second quarter, from Rs 1,239 crore during the same period of previous fiscal.
Exports of active pharmaceutical ingredients (APIs) declined to Rs 136 crore during the second quarter from Rs 206 crore in the same period of previous financial year.

Cipla shares ended at Rs 624.15 apiece on the BSE, up 0.91 per cent from previous close.