Cipla Q2 net profit at Rs.180.28 Crores, up 47% YOY

Cipla Ltd has announced the following Unaudited results for the quarter ended September 30, 2006:

The Company has posted a net profit after tax of Rs 1802.80 million for the quarter ended September 30, 2006 as compared to Rs 1226.00 million for the quarter ended September 30, 2005. Total Income (net of excise) has increased from Rs 6732.30 million for the quarter ended September 30, 2005 to Rs 9151.00 million for the quarter ended September 30, 2006.

Income from operations for the second quarter 2006-07 recorded a growth of more than 29% over the corresponding quarter in the previous year. During the quarter, exports continued to grow at 37% and the domestic segment grew at 22%.

All the major segments including anti-asthmatics, anti-aids, cardiovascular and anti-biotics/bacterials segments have shown good performance in the domestic market. In the exports markets anti-retrovirals, anti-asthmatics, anti-depressants and cardiovascular segments have performed well.

During the quarter, material costs (as a percent to income from operations) have increased due to change in product mix.

The increase in staff cost is due to overall increase in managerial remuneration as well as overall manpower. The increase in other expenditure is commensurate with increase in activities.

The company has setup a wholly owned subsidiary at Jebel Ali Free Zone, Dubai to aid logistics and explore new export opportunities. The company has also setup a new Export Oriented Unit at Patalganga and commercial production has commenced during August 2006.

Source : Equity Bulls

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