Pharmaceutical firm Cipla
's net profit spiked 90 percent year-on-year to Rs 500 crore in the
quarter ended September 2012. While explaining the reason for such a strong
profit, chairman YK Hamied says, "One-time achievement contributed a lot
to bottom-line growth."
However, 'profit of Rs 500 crore on this kind of topline is
exceptional," he quickly adds.
Net sales increased 33 percent to Rs 2,146 crore from Rs
1,615 crore during the same period, out of which 44 percent contribution came
from local business and 56 percent from international, Hamied says.
Numbers were above forecast. Analysts on an average has
projected net profit of Rs 361 crore on net sales of Rs 2,030 crore for the
quarter.
Earnings before interest, tax, depreciation and amortization
(EBITDA) rose 84.5 percent Yoyo to Rs 677 crore while analysts had forecast for
Rs 501 crore.
EBITDA margin increased significantly to 31 percent in the
three months period ended September 2012 as against 22.7 percent in the
corresponding quarter of last fiscal and 25 percent estimated by analysts.
Other income doubled to Rs 64 crore from Rs 32.7 crore
during the same period.
While explaining about next quarter, chairman says,
"The third quarter has started on a promising note. Indore factory
received US FDA approval last week."
The stock rose 0.87 percent to close at Rs 380.45 amid heavy
volumes on the Bombay Stock Exchange.
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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