Cipla Q2 net up 25 pc at Rs 471 cr

Drug firm Cipla on Wednesday posted 25 percent increase in consolidated net profit at Rs 471 crore for the second quarter ended September 30, on the back of robust sales across domestic and international markets. The Mumbai-based company had reported a profit of Rs 377 crore during July-September, 2018-19.

Total revenue from operations rose to Rs 4,396 crore for the second quarter as against Rs 4,012 crore in the year-ago period, Cipla said in a regulatory filing. "Our home markets continued to bode well - India business recorded robust performance in trade generics and across all key therapies in branded business while in South Africa, the private market business outpaced the market significantly," Cipla MD and Global CEO Umang Vohra said.

The company's growth accelerators remain on track, he added. In the US market, the company strengthened its anti-microbial stewardship with the commercialization of Zemdri, Vohra said.

Besides the domestic market, the company reported growth in businesses in South Africa and the US during the quarter. Elaborating on the product pipeline in the US market, the firm said it is progressing well on trials for respiratory products with the launch of Albuterol expected in the first half of the next fiscal.

Shares of Cipla were trading 2.61 percent up at Rs 479.80 apiece on the BSE.