Cipla, the third largest pharma company with sales of Rs.5,400 crore plus, has suffered minor setback
during the second quarter ended September 2010 on account of higher
overheads at Indore SEZ. Further rupee appreciation by 4-5 per cent also
impacted adversely. Its net profit declined by 4.6 per cent to Rs.263.01 crore from Rs.275.74
crore in the similar period of last year. Its EBDITA also moved down by
3.8 per cent to Rs.366.56 crore. It other
operating income declined by over 50 per cent to Rs.35.47
crore from Rs.71.70 crore.
The
company's net sales improved by 15.2 per cent to Rs.1,580
crore from Rs.1,371 crore. Its domestic
sales increased by 19.8 per cent to Rs.756
crore from Rs.631 crore and exports moved
up by 10.6 per cent to Rs.832.18 crore
from Rs.752.47 crore. Exports as
percentage of total sales worked out to 52.4 per cent as compared to
54.4 per cent in the last period. Cipla's formulations exports amounted
to Rs.663.91 crore as against Rs.581.91 crore. However, exports of APIs &
others declined by 1.3 per cent to Rs.168.27
crore from Rs.170.56 crore.
The
company's net sales for the first half ended September 2010 moved up by
11.3 per cent to Rs 3,030 crore from Rs.2,723
crore. Domestic sales increased by 11.6 per cent to Rs.1,432 crore and exports moved up by 11 per
cent to Rs.1,598 crore. Exports
contribution to sales worked out to 52.7 per cent as against 52.9 per
cent in the last period. Exports of formulations went up by 14.2 per
cent to Rs.1,290 crore. Its other
operating income in respect of technology knowhow/fees declined sharply
to Rs.27.85 crore from Rs.76.48 crore.
Meanwhile, Cipla Ltd has
appointed S Radhakrishnan as an additional director and whole-time
director of the company for a period of 5 years. S A A Pinto, director
has resigned from the directorship due to health reasons.