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Business News/ Companies / Company-results/  Cipla net profit falls 68% to Rs81 crore
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Cipla net profit falls 68% to Rs81 crore

Total income in the quarter increases 8% to Rs3,206 crore from Rs2,980 crore a year ago

For the year ended 31 March, net profit went up to Rs1,506 crore from Rs1,181 crore for the previous year. Revenue for FY16 stood at Rs13,372.4 from Rs10,882 crore. Premium
For the year ended 31 March, net profit went up to Rs1,506 crore from Rs1,181 crore for the previous year. Revenue for FY16 stood at Rs13,372.4 from Rs10,882 crore.

Mumbai: Cipla Ltd, India’s second-largest drug maker by sales, on Tuesday posted a decline of 68% in net profit for the quarter ended 31 March from a year ago.

Net profit fell to 80.87 crore in the three months from 259.66 crore in the year-ago quarter, the company said.

Revenue increased to 3,206 crore from 2,980 crore, an increase of 8%.

Cipla shares closed at 494.9 on the BSE, down 0.5%, on a day the benchmark Sensex rose 0.3% to 25,305.47 points.

For the year ended 31 March, net profit rose to 1,506 crore from 1,181 crore. Revenue increased to 13,372.4 crore from 10,882 crore.

The company’s domestic business contributed 40% to overall annual sales. Cipla has a share of 5.3% in the Indian pharmaceutical market, the company said.

Domestic sales grew 16% to 1,258 crore in the March quarter, from 1,086 crore a year ago. Exports of formulations increased 3.2% to 1,744 crore, from 1,690 crore during the quarter.

Cipla, for which the US makes up less than 10% of revenue, has been expanding its presence in the world’s biggest pharma market through multiple acquisitions, with plans to double revenue from the country to 15-20% of its total by 2020.

In September, Cipla EU Ltd acquired two US-based companies—InvaGen Pharmaceuticals Inc. and Exelan Pharmaceuticals Inc—for $550 million.

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Published: 24 May 2016, 06:52 PM IST
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