Cipla Q2 net profit jumps 90% to Rs 500 cr
Pharmaceutical firm Cipla's net profit spiked 90 percent year-on-year to Rs 500 crore in the quarter ended September 2012. "One-time achievement contributed a lot to bottom-line growth," Chairman YK Hamied said.
November 05, 2012 / 17:52 IST
Pharmaceutical firm Cipla's net profit spiked 90 percent year-on-year to Rs 500 crore in the quarter ended September 2012. While explaining the reason for such a strong profit, chairman YK Hamied says, "One-time achievement contributed a lot to bottom-line growth."
However, 'profit of Rs 500 crore on this kind of topline is exceptional," he quickly adds.Net sales increased 33 percent to Rs 2,146 crore from Rs 1,615 crore during the same period, out of which 44 percent contribution came from local business and 56 percent from international, Hamied says.Numbers were above forecast. Analysts on an average has projected net profit of Rs 361 crore on net sales of Rs 2,030 crore for the quarter.Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 84.5 percent YoY to Rs 677 crore while analysts had forecast for Rs 501 crore.EBITDA margin increased significantly to 31 percent in the three months period ended September 2012 as against 22.7 percent in the corresponding quarter of last fiscal and 25 percent estimated by analysts.Other income doubled to Rs 64 crore from Rs 32.7 crore during the same period.While explaining about next quarter, chairman says, "The third quarter has started on a promising note. Indore factory received US FDA approval last week."The stock rose 0.87 percent to close at Rs 380.45 amid heavy volumes on the Bombay Stock Exchange. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
