Cipla first quarter profit declines 6%

Cipla first quarter profit declines 6%

Mumbai: Cipla Ltd, India’s second-largest drug maker, said first quarter net profit fell 1.6% to Rs253.34 crore from a year earlier.

Sales rose 9.2% in the three months ended 30 June to Rs1573.81 crore, the company said on Friday.

The drop in profit was because of an increase in depreciation, higher tax and interest outgo and a drop in other income, the company said.

Cipla’s local sales grew 10% to Rs743.64 crore. Exports rose 8.4% to Rs830.17 crore.

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