Cipla, the fifth largest pharmaceutical company in India with net sales of Rs.8,000 crore plus, has posted dismissal performance during the third quarter ended December 2013 and its net profit declined by 16.5 per cent to Rs.284.31 crore from Rs.340.31 crore in the corresponding period of last year. Its net sales improved by 23.3 per cent to Rs.2,853 crore from Rs.2,071 crore. EBDITA also declined by 10.2 per cent to Rs.467.27 crore from Rs.520.60 crore due to higher R&D and other expenditure. Previous year's results include one time profit share revenues from Escitalopram through its US partner.
Its domestic sales increased by 12.6 per cent to Rs.1,044 crore from Rs.927 crore due to higher sales in respiratory, anti-infectives and cardiology. Its sales in international markets went up by 31.9 per cent to Rs.1,508 crore from Rs.1,143 crore. International sales contributed over 59 per cent to its sales as against 55.2 per cent in the last period. Formulation exports went up by 34.4 per cent to Rs.1,352 crore from Rs.1,006 crore in the similar quarter of last year. Exports of APIs grew by 14 per cent to Rs.157 crore from Rs.137 crore. The growth in export revenues was primarily due to growth in anti-retroviral, anti-cancer, anti-allergic and anti-biotic segments.
For the nine months period ended December 2013, Cipla's net sales increased by 18.7 per cent to Rs.7,324 crore from Rs.6,170 crore in the same period of last year. Its net profit, however, declined by 11.1 per cent to Rs.1,128 crore from Rs.1,268 crore. Its domestic sales increased by 13.4 per cent to Rs.3,186 crore and that from international market surged by 23.1 per cent to Rs.4,138 crore from Rs.3,361 crore.