Cipla profit jumps 62%

Drug-maker Cipla on Monday announced 62% year-on-year jump in net profit at Rs. 500 crore for the quarter ended September 2012, from Rs. 309 crore during the corresponding period of the previous fiscal year, driven by robust sales in domestic and international markets. HT reports.

Drug-maker Cipla on Monday announced 62% year-on-year jump in net profit at Rs. 500 crore for the quarter ended September 2012, from Rs. 309 crore during the corresponding period of the previous fiscal year, driven by robust sales in domestic and international markets.

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The company's formulation exports grew by 38% to Rs. 1,039 crore during the quarter under review compared to Rs. 752 crore during the same period of the previous fiscal year.

Domestic revenues of the company 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 export revenues was primarily due to growth in anti-depressants, anti-ulcerant and anti-asthma segments," the company said in a statement.

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

Net sales of the company rose by 23.9% to Rs. 2,145.9 crore during the second quarter, as against Rs. 1,731.8 crore in the same period of 2011-12 fiscal.