Cipla Q1 net profit up 10 percent at Rs 451 crore
New Delhi: Drug major Cipla posted 10 percent increase in its consolidated net profit to Rs 451 crore for the first quarter ended June 30, driven by robust sales across various markets.
The company had reported a net profit of Rs 409 crore in the same period previous fiscal.
Total Income from operations stood at Rs 3,939 crore in the quarter, as compared to Rs 3,525 crore in the corresponding period last year, Cipla said in a statement.
"The limited competition launches in the US were in-line with our expectations and we are looking forward to more interesting launches in the coming weeks," Cipla MD and Global CEO Umang Vohra said.
The company continued to retain its focus on quality with EIR (establishment inspection report) received for Goa and Indore plants, he added.
The Mumbai-based company also announced the appointment of R Ananthanarayanan as its Global Chief Operating Officer (GCOO), effective today.
In his role at Cipla, he will oversee R&D, manufacturing, supply chain, API business and the key geographies of North America, Europe, and emerging markets to help leverage and grow company's generics portfolio and competencies in these markets.
He will report to Vohra.