Cipla Q4 net drops 69% to Rs 81 cr

Pharma major Cipla today reported a consolidated net profit of Rs 80.87 crore for the fourth quarter ended March 31, 2016.

The company had posted a net profit after minority interest and share of profit/loss of the associates of Rs 259.66 crore for the corresponding period of the previous fiscal, Cipla said in a filing to BSE.

Consolidated total income from operations of the company stood at Rs 3,266.54 crore for the quarter under consideration. It was Rs 3,092.69 crore for the year ago period.

"The company's wholly owned subsidiary acquired 100% stake in two US based companies, InvaGen Pharmaceuticals Inc and Exelan Pharmaceuticals Inc. Both became company's wholly owned subsidiaries from February 17, 2016," Cipla said.

The results of the current period includes relevant results of InvaGen and Exelan from the date they became subsidiaries of the company and "therefore the corresponding figures for the previous period are not comparable", it added.

The company posted a net profit of Rs 1,505.92 crore for the fiscal year ended March 31, 2016. It was Rs 1,180.77 crore for the same period year ago.

Consolidated total income from operations stood at Rs 13,678.27 crore for the recently concluded fiscal. It was Rs 11,345.44 crore for the year ago fiscal year.

In a separate filing, Cipla said its Board has recommended payment of dividend of Rs 2 per equity share (face value Rs 2 per equity share) for the year 2015-16.

Shares of Cipla today closed at Rs 494.90 on BSE, down 0.50% from its previous close.