Cipla's net profit dips over 26% in Q2

MUMBAI: Drug major Cipla's consolidated net profit for the July-September quarter dipped significantly by 26.6% to Rs 358 crore following low margins at its subsidiary Cipla Medpro.
The sales revenue however grew by 14% to Rs 2463 crore, up from Rs 2167 crore. The previous year's results included one-time profit share revenues from Escitalopram through its US partner, says a company statement.
"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 corresponding figures for the previous period are not comparable," it added.
In the domestic market Cipla clocked sales of Rs 1,040 crore during the quarter ended September, registering an increase of 11.6% from the year ago corresponding quarter.
"The growth in domestic revenues was largely on account of growth in anti-asthma, urology and chronic obstructive pulmonary disease therapy segments," the company said.
In the international business segment, the company's formulations exports grew 14.9% during the second quarter to Rs 1,219 crore during the corresponding period previous fiscal.