Cipla fell 2.11% to Rs 724.90 at 09:18 IST on BSE after consolidated net profit surged 120.9% to Rs 650.61 crore on 41.3% rise in total income to Rs 3901.70 crore in Q1 June 2015 over Q1 June 2014.
The result was announced after market hours on Friday, 14 August 2015.
Meanwhile, the S&P BSE Sensex was down 46.65 points or 0.17% at 28,020.66
On BSE, so far 80,567 shares were traded in the counter as against average daily volume of 1.5 lakh shares in the past one quarter.
The stock saw volatility in early trade. The stock hit a high of Rs 748 and a low of Rs 716 so far during the day. The stock had hit a record high of Rs 752.45 on 10 March 2015. The stock had hit a 52-week low of Rs 432.90 on 14 August 2014.
The large-cap company has equity capital of Rs 160.62 crore. Face value per share is Rs 2.
Cipla's income from operations jumped 41.6% to Rs 3853 crore in Q1 June 2015 over Q1 June 2014. The sharp surge in Cipla's revenue in Q1 June 2015 was due to one-off revenue from the US market. Cipla said that all business units witnessed strong growth in Q1 June 2015. Cipla's earnings before interest, taxation, depreciation and amortization (EBITDA) rose 91.8% to Rs 1039 crore in Q1 June 2015 over Q1 June 2014. Cipla said that its Q1 June 2015 include the relevant results of Cipla's subsidiaries from the date they became subsidiary of the company and therefore the corresponding figures for the Q1 June 2014 are not comparable.
In domestic business, Cipla's sales rose 8.4% to Rs 1397 crore in Q1 June 2015 over Q1 June 2014. The growth in domestic sales was largely on account of growth in Respiratory, Anti-infectives, Cardiac and Gastro Intestinal therapies, Cipla said.
Cipla's exports of formulations jumped 78.5% to Rs 2174 crore in Q1 June 2015 over Q1 June 2014. Exports of active pharmaceutical ingredient (API) increased surged 47% to Rs 206 crore in Q1 June 2015 over Q1 June 2014.
With regard to future business outlook, Cipla said that the management expects 20% top-line growth for the company for the current financial year. Cipla further said that the company is evaluating reinvestment options in R&D, consumer healthcare and biologics.
Cipla is a global pharmaceutical company. Cipla's product portfolio includes over 1,500 products in various therapeutic categories.
Powered by Capital Market - Live News
