Cipla Q2 net up 62% on robust sales at Rs 500 cr

New Delhi: Drug firm Cipla Ltd today said its consolidated net profit rose by 61.83 percent to Rs 500.01 crore for the second quarter ended 30 September 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.[caption id=“attachment_515189” align=“alignleft” width=“380”]  Soaring profits. Reuters[/caption]

Net sales of the company rose by 23.90 percent 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 30 September 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.

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The company said domestic revenues grew by 13.5 percent 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 percent 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,” he company added.

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

PTI