May 29, 2013 07:11 PM IST | Source: Moneycontrol.com

Cipla Q4 disappoints; sales up 2.4%, net down 8%

Generic drug maker Cipla's fourth quarter sales grew marginally by 2.4 percent to Rs 1910 crore from Rs 1865 crore, a year ago. The company's operating profit margins improved by 270 basis points from 18 percent to 20.7 percent.

Cipla Q4 disappoints; sales up 2.4%, net down 8%

Moneycontrol Bureau

Generic drug maker Cipla's fourth quarter sales grew marginally by 2.4 percent to Rs 1910 crore from Rs 1865 crore, a year ago. The company's operating profit margins improved by 270 basis points from 18 percent to 20.7 percent.

Its net profit declined by 8.2 percent from Rs 292 crore to Rs 268 crore.

Analysts on an average had expected the company to post profit of Rs 331 crore on revenues of Rs 2093 crore.

Cipla's board has recommended a dividend of Rs 2 per equity share for the year 2012-2013.

Net profit for the year ended March 31, 2013 was higher at Rs 1,507.11 crore compared to Rs 1,123.96 crore, a year ago.

Total income for the fiscal year 2013 rose to Rs 8,202.42 crore from Rs 6,977.50 crore for the same period year ago.

Subhanu Saxena, CEO, Cipla said in an exclusive interview to CNBC-TV18, "The Indian brand generics market has witnessed slowdown but we will still invest in next phase of growth over the next 2 years."

Going forward the company's focus will be to make a robust portfolio outside India. "We are looking to re-establish our presence in US and Europe. Among emerging markets, the focus would be on China, Japan, Turkey and Brazil," he added.

The stock closed at Rs 401.55, up Rs 5 or 1.26 percent on Tuesday.

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