Cipla, a Rs. 9,800 crore plus fifth largest Mumbai based pharma major, has suffered a heavy setback during the first quarter ended June 2014 and its consolidated net profit declined sharply by 39.2 per cent to Rs. 295 crore from Rs. 485 crore in the corresponding period of last year. Its EBDITA also declined by 23.2 per cent to Rs. 582 crore from Rs. 758 crore. The company's consolidated net sales improved by 13.6 per cent to Rs. 2,647 crore from Rs. 2,331 crore.

Cipla's domestic sales increased by 17 per cent to Rs. 1,289 crore from Rs. 1,102 crore on account of growth in respiratory, anti-infective and cardiac therapies. Its exports sales improved by 12.7 per cent to Rs. 1,218 crore from Rs. 1,081 crore due to growth in anti-retroviral, anti-asthma and anti-allergic segments.

The employees cost went up by 45.9 per cent to Rs. 480 crore during the quarter ended June 2014 from Rs. 329 crore in the similar quarter of last year. Similarly, its depreciation provision increased by 47.1 per cent to Rs. 125 core from Rs. 85 crore. Its other income declined significantly by 42 per cent to Rs. 40 crore from Rs. 69 crore and its other operating income went down by 59.4 per cent to Rs. 73 crore from Rs. 180 crore. Thus, the higher provision for depreciation and employees and lower other income adversely impacted its EBDITA.

On the standalone basis, Cipla's net sales increased only by 4 per cent to Rs. 2,402 crore from Rs. 2,308 crore. Its standalone net profit declined by 30.1 per cent to Rs. 332 crore from Rs. 475 crore.

Currently, around 220 formulation development projects are underway. It's international filing reached at more than.300 products and it has completed the acquisition of Mabpharm. It also completed the licensing deals for Darbopoeotin and Raltegravir for Indian domestic market. Furhter, sub-licensing agreements from Medicine Patent Pool to make generic versions of the HIV medicine Dolutgravir also completed.