Cipla Q3 net profit jumps 43.85% to Rs374.83 crore
New Delhi: Homegrown pharma major Cipla Ltd on Wednesday reported 43.85% jump in consolidated net profit at Rs374.83 crore for the third quarter ended 31 December 2016. The company had posted a consolidated net profit of Rs260.57 crore in the same period last fiscal, Cipla said in a BSE filing.
Net sales during the quarter under review stood at Rs3,550.02 crore as against Rs3,069.89 crore in the corresponding period last fiscal, up 15.63%. The company’s profit was boosted by other income of Rs153.49 crore during the quarter as compared to Rs67.53 crore in the third quarter last year.
On plans to raise Rs4,000 crore via issue of securities in both domestic and global markets, Cipla said its Board of Directors at their meeting held on Wednesday has decided “to seek approval of the shareholders in future at an appropriate time depending upon the funding requirements and investment opportunities”. It also said that as part of a planned transition, company secretary, key managerial personnel and compliance officer Mital Sanghvi will relinquish his post and is moving into a senior business finance role within the company.
Subsequently, Rajendra Chopra will be the new company secretary and key managerial personnel with effect from 9 February 2017, the company said.