Business Daily from THE HINDU group of publications
Saturday, Jul 19, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Saturday, Jul 19, 2008 ePaper | Mobile/PDA Version | Audio |
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Corporate Results
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Pharmaceuticals
Our Bureau Mumbai, July 18 A robust 50 per cent growth in exports and 16 per cent growth in domestic sales buoyed Cipla’s bottomline for the three months ended June 30, 2008. “This was mainly due to a 117 per cent growth in bulk drugs and intermediates and chemicals exports as well as a 32 per cent growth in formulations,” the company said. Cipla also saw Rs 75 crore forex loss in the quarter under review, on revaluation of forward contracts, outstanding debtors and foreign currency loans consequent to the depreciation of the rupee against the US dollar, the company said. Mr Amar Lulla, Cipla’s Chief Executive told Business Line that the forex loss was unlikely to happen in the forthcoming quarters. Rising input costs, though, would continue to put pressure on margins, he added. During the quarter under review, Cipla has commenced commercial production at its plant in Sikkim for manufacture of formulations, the company said.
Cipla shares were up 1.65 per cent, at Rs 215.25 on the BSE. More Stories on : Pharmaceuticals | Cipla Ltd
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