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Our Bureau

Mumbai, Jan. 24

Exports of bulk drugs and finished drugs and have helped buoy Cipla’s net profits by over 14 per cent for the three months ended December 31, 2007.

A growth of over 22 per cent in exports, in spite of the impact of the appreciating rupee, coupled with 19 per cent growth in domestic sales of medicines contributed to the company’s performance in the quarter under review.

The company also said that employee cost had increased by Rs 18 crore due to overall increase in manpower, salary revisions and change in Bonus Act. However, Cipla’s Chief Executive Officer, Mr Amar Lulla, explained that similar costs were seen across industries and companies and was not limited to Cipla.

The hi-profile advertising campaign on Cipla’s I-pill, “the morning after pill”, accounted for a large part of Cipla’s increased expenses. The company said that other expenditure had increased by Rs 75 crore, largely on increased expenditure on advertisement campaign, repairs and maintenance, professional fees and travel expenditure. Of the above increase, an amount of Rs 17 crore is of a onetime nature, the company said.

Cipla shares were down 3.89 per cent on the BSE, at Rs 175.20 on Thursday.

More Stories on : Pharmaceuticals | Exports & Imports | Cipla Ltd

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