Cipla Q2 net falls slightly to Rs263 crore
11 Nov 2010
Pharmaceutical major Cipla today reported a 4.62 per cent fall in its fiscal second quarter (July-September 2010-11) net profit to Rs263.01 crore against a net profit of Rs275.74 crore in the similar quarter of the previous financial year.
Net profit for the first half of the financial year stood at Rs520.43 crore against Rs517.45 crore in the first half of the previous financial year.
Cipla had reported a net profit of Rs1,081.49 crore in the financial year ended 31 March 2010.
Total income of the company increased to Rs1,632.0 crore during the quarter ended 30 September 2010 from Rs1,45.7 crore in the quarter ended 30 September 2009.
Cipla reported gross sales of Rs1,588.59 crore during the quarter ended 30 September 2010 against Rs1,383.91 crore in the previous year quarter.
Sales for the fiscal first half stood at Rs3,029.62 crore against Rs2,723.37 crore in the first half of the previous fiscal.
Cipla reported gross sales of Rs5,411.68 crore in the financial year ended 31 March 2010.
Cipla, the third largest pharma company in the country, attributed the decline in profit to higher overheads at Indore SEZ. The rupee appreciation by 4-5 per cent also adversely impacted the company's export profits.