Drug major Cipla on Wednesday, on Feb. 10, 2016, announced its unaudited consolidated financial results for the quarter ended Dec. 31, 2015. They reported a 4.7-percent increase in their consolidated net profit to Rs 343 crore. They had posted a net profit of Rs 328 crore for the corresponding period in the previous fiscal year, according to a statement.
The consolidated total income from operations also grew to Rs 3,107 crore for the quarter under consideration as against Rs 2,765 crore for the same period a year ago.
The exports posted by the company formulations increased by 28.5 percent to Rs 1,833 crore during the third quarter of the current fiscal as against Rs 1,426 crore during the year-ago period. However, the domestic sales marginally, by 0.4 percent to Rs 1,194 crore during the third quarter (Q3) of FY16, down from Rs 1,199 crore during Q3 of FY14-15. Exports of APIs also decreased 5.3 percent to Rs 143 crore during Q3 of FY16 from Rs 151 crore during Q3 of FY14-15, it added.
"According to the management, the company has lost 2.5 percent on back of change in distribution policy and around 0.7 percent impact on back of currency impact of ZAR. Last corresponding period the company had a 2 percent dip in margins due to one off expenditure. The R&D expenditure during the quarter was 8 percent of sales compared to 6 percent of sales during the last corresponding period," said Sarabjit Kour Nangra, VP Research — Pharma, Angel Broking.
On Feb. 10, Cipla Ltd closed at the BSE at Rs 538.85, down Rs 17.65, or 3.17 percent. The 52-week high of the share was Rs 752.45 and the 52-week low was Rs 535.