Cipla Q2 net vaults nearly 62 per cent to Rs500 crore

Indian pharmaceuticals major Cipla Ltd has reported a 61.83 per cent increase in its fiscal second quarter net profit at Rs500.01 crore against a net profit of Rs308.97 crore for the similar quarter of the previous year.

The impressive performance during the quarter was due mainly to robust sales both in the domestic and overseas markets, the company said in a filing with the Bombay Stock Exchange (BSE).

Net sales of the company increased 23.90 per cent to Rs2,145.87 crore during the September 2012 quarter, against Rs1,731.83 crore in the similar quarter of the 2011-12 fiscal.

For the six months ended 30 September 2012, Cipla reported a net profit of Rs900.77 crore, against a net profit of compared to Rs562.31 crore during the same period of the previous fiscal.

Domestic revenues grew 13.5 per cent to Rs962 crore during the September quarter of FY'13, against Rs847 crore during the same period of 2011-12 fiscal.

The growth in domestic revenues was largely on account of growth in anti-asthma, antibiotics and cardiovascular therapy segments, Cipla said.