Cipla Q1 PAT up 6.49%

Drug major Cipla reported a 6.49% jump in its profit after tax to Rs 257.42 cr for the first quarter.

Drug major Cipla today reported a 6.49 per cent jump in its profit after tax to Rs 257.42 crore for the first quarter ended June 30,on the back of strong sales from export.

The company had a profit after tax (PAT) of Rs 241.71 crore in the same period previous fiscal.

Net sales of the company stood at Rs 1,427.38 crore for the first quarter ended June 30,compared to Rs 1,325.26 crore in the same period corresponding period,Cipla Ltd said in a filing to Bombay Stock Exchange (BSE).

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During the quarter domestic sales of the company stood at Rs 675.15 crore for the first quarter ended June 30,a rise of 3.6 per cent,compared to Rs 651.89 crore in the same period last fiscal.

The lower growth in domestic sales (compared to sales from export) is primarily due to sale of i-pill business and lower sales of certain products in the domestic generic business, the company said.

The companys sales from exports stood at Rs 765.88 crore for the quarter ended June 30,a rise of 11.4 per cent,compared to Rs 687.57 crore in the same period last fiscal.

Shares of Cipla today closed at Rs 315.45 on the BSE,up 0.54 per cent from its previous close.