Cipla jumped 5.47% to Rs 357.05 at 09:28 IST on BSE after net profit surged 58.2% to Rs 400.76 crore on 23.8% rise in total income to Rs 2011.25 crore in Q1 June 2012 over Q1 June 2011.
The company announced the results after market hours on Tuesday, 31 July 2012.
Meanwhile, the BSE Sensex was up 4.74 points or 0.03% to 17,240.92
On BSE, 3.78 lakh shares were traded in the counter as against average daily volume of 1.06 lakh shares in the past one quarter..
The stock hit a 52-week high of Rs 363.60 in intraday trade today, 1 August 2012. The stock hit a low of Rs 356.20 so far during the day. The stock had hit a 52-week low of Rs 273.60 on 6 September 2011.
The stock had outperformed the market over the past one month till 31 July 2012, gaining 7% compared with the Sensex's 1.11% fall. The scrip had also outperformed the market in past one quarter, rising 8.56% as against Sensex's 0.48% decline.
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The large-cap pharma firm has an equity capital of Rs 160.58 crore. Face value per share is Rs 2.
Cipla said income from operations crossed Rs 2000 crore for the quarter and posted a growth of about 24%. Domestic sales grew by more than 30% and export sales grew by about 18%. Operating margins and profits after tax have increased by more than 47% and 58% respectively.
Material cost has decreased by 5% mainly on account of changes in product mix viz. lower proportion of anti-retrovirals and higher contribution of anti-depressant segment (Escitalopram) coupled with increased realizations. As a result, operating margins have also increased by about 5%. The increase in staff cost (Rs 42 crore) is due to annual increments and increase in manpower. Other expenditure has increased by Rs 91 crore for the quarter on account of increase in marketing expenses, professional fees, travel expenditure, etc. Tax for the current quarter has marginally increased due to higher profits.
Meanwhile, shares of Cipla turned ex-dividend today, 1 August 2012, for dividend of Rs 2 per share for the year ending 31 March 2012.
Cipla manufactures pharmaceutical products which include anti-asthmatics, anti-cancer, anti-inflammatory, anti-depressant and other therapeutic products including animal health care products.
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