Financial Daily from THE HINDU group of publications
Wednesday, Jan 25, 2006
Financial Daily from THE HINDU group of publications Wednesday, Jan 25, 2006 |
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Corporate Results
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Pharmaceuticals Cipla net up 40 pc on exports Our Bureau
MUMBAI: The Mumbai-based drug maker Cipla Ltd has posted a 40 per cent increase in net profit for the third quarter ended December 31, 2005, fuelled largely by exports. The company posted a net profit at Rs 175.30 crore for the three months ended December 31, 2005, as compared to Rs 125.6 crore in the corresponding third quarter last year. Total income (net of excise) has increased 34 per cent from Rs 637.32 crore in Q3 FY 04-05 to Rs 855 crore for the Q3 under review. The Chief Financial Officer of Cipla, Mr S. Radhakrishnan, said exports grew by 35 per cent. The export of active pharmaceutical ingredients, the raw material used to make medicines, grew by 95 per cent, he added. The product-mix, coupled with the fact that Cipla operates in about 150 countries has cushioned the company from being dependent on any one market and pricing pressures in the different markets, he said. The domestic market also grew by about 18 per cent, on the back of seasonal and new products, he added. Cipla shares closed at Rs 431.85, down 2.13 per cent on the Bombay Stock Exchange.
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