Cipla rose 1.45% to Rs 378.35 at 11:00 IST on BSE on bargain hunting after the company announced Q4 March 2014 results after trading hours on Thursday, 29 May 2014.
Meanwhile, the BSE Sensex was up 49.46 points, or 0.20%, to 24,283.61.
On BSE, so far 89,000 shares were traded in the counter, compared with an average volume of 1.91 lakh shares in the past one quarter.
The stock hit a high of Rs 380.35 and a low of Rs 368.70 so far during the day. The stock hit a record high of Rs 450 on 16 September 2013. The stock hit a 52-week low of Rs 364.05 on 3 June 2013.
Shares of Cipla fell 6.31% in the preceding ten trading sessions to Rs 372.95 on 29 May 2014, from a recent high of Rs 398.05 on 15 May 2014.
The stock had underperformed the market over the past one month till 29 May 2014, falling 7.03% compared with 7.87% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 2.97% as against Sensex's 14.74% rise.
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The large-cap company has an equity capital of Rs 160.58 crore. Face value per share is Rs 2.
On a consolidated basis, Cipla's net profit declined 6% to Rs 261 crore on 27% growth in sales to Rs 2429 crore in Q4 March 2014 over Q4 March 2013.
Cipla's EBITDA declined 4% to Rs 409 crore in Q4 March 2014 over Q4 March 2013. Cipla said that material cost increased at 41.3% of net sales in Q4 March 2014, from 37% of net sales in Q4 March 2013.
Domestic sales rose 19.3% to Rs 908 crore in Q4 March 2014 over Q4 March 2013. The growth in domestic sales was largely on account of growth in respiratory, anti-infective and cardiac therapies, Cipla said in a statement.
Exports of formulations rose 30% to Rs 1282 crore in Q4 March 2014 over Q4 March 2013. Exports of APIs rose 36.7% to Rs 239 crore in Q4 March 2014 over Q4 March 2013. The growth in export revenues was primarily due to growth in anti-retroviral, anti-asthma and anti-allergic segments, Cipla said in a statement.
Cipla said that the current year figures include the relevant results of Cipla's subsidiaries from the date they became subsidiary of the company and therefore the corresponding figures for the previous period are not comparable.
The company's net profit fell 10.13% to Rs 1388.41 crore on 21.93% increase in total income to Rs 10365.76 crore in the year ended March 2014 over the year ended March 2013.
Cipla is a global pharmaceutical company. The company's portfolio includes 2000 products in 65 therapeutic categories with one quality standard globally.
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