Cipla posts Rs 284 cr profit for Q3

Drug major Cipla today posted a consolidated net profit of Rs 284.31 crore for the third quarter ended December 31, 2013.
The company had posted a net profit of Rs 340.31 crore during the same period of the previous fiscal.
Consolidated net sales of the company stood at Rs 2,552.63 crore for the third quarter. It stood at Rs 2,070.53 crore in the same period of previous fiscal, Cipla Ltd said in a statement.
"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," it added.

During the period under review, the company's domestic revenues stood at Rs 1,044 crore. It stood at Rs 927 crore during the same period of previous fiscal.
"The growth in domestic revenues was largely on account of growth in respiratory, anti-infectives and cardiology," the company said.

The company's exports of formulations stood at Rs 1,352 crore during the third quarter. It stood at Rs 1,006 crore during the same period of previous fiscal.
"The growth in export revenues was primarily due to growth in anti-retroviral, anti-cancer, anti-allergic and anti-biotic segments," it added.
In a separate statement the company announced the appointment of Peter Mugyenyi as an independent director on the company's board with immediate effect.

Cipla shares today closed at Rs 412.80 apiece on the BSE, up 0.07 per cent from its previous close.