Cipla Q2 net profit at Rs 431 crore;lower growth expected in H2

New Delhi: Drug major Cipla on Thursday posted a consolidated net profit of Rs 431.24 crore for the quarter ended September 30, 2015, and said it expects growth in the second half of 2015-16 to be lower than the first half, while maintaining a positive outlook for the whole fiscal.

The company had posted a net profit of Rs 298.68 crore for the same period of previous fiscal.

Net sales of the company rose to Rs 3,361.73 crore for in the second quarter of current fiscal. It had reported net sales of Rs 2,629.81 crore during the same period of previous fiscal, Cipla Ltd said in a filing to the BSE.

The outlook for FY 2015-16 remains positive, “Growth in H2 likely to be lower than H1 growth…,” Cipla said in its investor presentation on quarterly earnings release.

Current year figures include relevant results of company’s subsidiaries and therefore the corresponding figures for the previous period are not comparable, it added.

Domestic sales grew marginally to Rs 1,262 crore during the second quarter. The company had posted sales of Rs 1,251 crore during the second quarter of previous fiscal.

The Mumbai-based firm said exports of formulations stood at Rs 1,874 crore during the second quarter. It stood at Rs 1,239 crore during the second quarter of previous fiscal.

The company’s board, which met today, has re-appointed S Radhakrishnan as a Whole-time Director for a term of two years with effect from November 12, 2015.

Cipla shares today ended at Rs 658.50 apiece on the BSE, down 1.85 per cent from previous close.