Cipla Q2 net up 62% at Rs 500 cr

Drug firm Cipla Ltd today said its consolidated net profit rose by 61.83% to Rs 500.01 crore for the second quarter ended September 30, 2012, due to robust sales in domestic and international markets.

The company had posted a net profit of Rs 308.97 crore during the corresponding period of previous fiscal, Cipla said in a filing to the BSE.

Net sales of the company rose by 23.90% to Rs 2,145.87 crore during the second quarter, as against Rs 1,731.83 crore in the same period of 2011-12 fiscal.

For the six months ended September 30, 2012, the company posted a net profit of Rs 900.77 crore, compared to Rs 562.31 crore during the same period of previous fiscal.

The company said domestic revenues grew by 13.5% to Rs 962 crore during the second quarter, as against Rs 847 crore during the same period of 2011-12 fiscal.

"The growth in domestic revenues was largely on account of rise in sales of anti-asthma, anti-biotics and cardiovascular therapy segments," it said.

During the quarter under review, the company's formulation exports grew by 38.2% to Rs 1,039 crore, compared to Rs 752 crore during the same period of previous fiscal.

"The growth in export revenues was primarily due to growth in anti-depressants, anti-ulcerant and anti-asthma segments," the company added.

Shares of Cipla today closed at Rs 380.45 on the BSE, up 0.87% from its previous close.