Pharma major Cipla 's
first quarter net profit surged much better-than-expected 58% year-on-year to
Rs 401 crore, helped by strong growth in sales and higher realisations.
The company's quarterly net sales were also above
expectations, growing 24% to Rs 1,917 crore.
Analysts on average had expected Cipla to report a net
profit of Rs 306 crore on revenue of Rs 1,864 crore, according to CNBC-TV18
estimates.
In April-June, the company's domestic sales rose 30% to Rs
970 crore, while exports were up 18% to Rs 979 crore. Exports accounted for
50.2% of total sales last quarter.
Cipla's raw material costs as a percentage to total sales
declined to 37.6% in Q1 from 42.5% a year ago, which helped margins.
"Material cost has decreased by 5% mainly on account of
changes in product mix, namely lower proportion of anti-retrovirals and higher
contribution of anti-depressant segment, coupled with increased realisations.
As a result, operating margins have also increased by about 5%," Cipla
said.
Its staff costs rose 25% during the quarter to Rs 213 crore
due to annual increments and increase in manpower.
Cipla shares closed up 1.6% at Rs 338.60 on NSE on Tuesday.
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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