Cipla has rallied 6% to Rs 360 on reporting a better-than-expected 59 % year-on-year (yoy) growth in net profit at Rs 400 crore for the quarter ended June 2012, on the back strong domestic growth and exclusive revenues from supply of generic version of anti-depressant drug Lexapro to Teva.
Analysts, on an average, had expected net profit of Rs 324 crore for the quarter. Net sales grew 24% at Rs 1,917 crore on y-o-y basis. Operating margins expanded by 4.6 per centage points to 28% during the recently concluded quarter.
"The growth in domestic revenues was largely on account of growth in anti-asthama and antibiotics therapy segments, while growth in export revenues was primarily due to growth in anti-depressants and anti-cancer segments," Cipla said in a release.
The stock opened at Rs 360 and hit a 52-week high of Rs 364 on the National Stock Exchange (NSE). A combined 2.32 million shares have changed hands on the counter in opening deals on both the exchanges.
