The Mumbai-based drug company Cipla Ltd has posted a 26.6 per cent drop in its net profit during the second quarter ended September 30, 2013. Its net profit declined to Rs.358.06 crore from Rs.488 crore in the corresponding period last year, while total income from operations increased 14.6 per cent to Rs.2,512 crore.
The company's net profit was impacted by a 27.9 per cent rise in total expenses, including interest, material cost, employee benefit scheme and other expenses. Current year figures include the relevant results of Cipla Medpro and its subsidiaries from the date Cipla Medpro became subsidiary of the company and therefore the corresponding figures for the previous period are not comparable, the company said in its release.
During the same period, consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) fell 16.7 per cent Y-o-Y to Rs.564 crore and operating profit margin declined 850 basis points to 22.5 per cent. Domestic revenues grew 11.6 per cent year-on-year to Rs.1,040 crore, driven by growth in anti-asthma, urology and COPD therapy segments.
In case of international business, exports of formulations rose 14.9 per cent to Rs.1,219 crore and active pharmaceutical ingredients (APIs) increased 17.7 per cent to Rs.204 crore, primarily due to growth in anti-retroviral, anti-malaria and anti-allergic segments.