Cipla Q2 net up 17.5% to Rs 309 cr

Drug major Cipla reported a 17.47 per cent increase in itsnet profit to Rs 308.97 crore for the quarter ended September 30, 2011 due toimproved sales within the country and overseas.

The company had posted a net profit of Rs 263.01 crore forthe quarter ended September 30, 2010 Cipla said in a filing to BSE.

Net sales of the company for the quarter ended September 30,2011 stood at Rs 1,731.83 crore as against Rs 1,579.88 crore for thecorresponding period previous fiscal.

Domestic sales grew by 12 per cent to Rs 847.03 crore asagainst Rs 756.41 crore in the year-ago period. Exports also grew by 10 percent to Rs 911.06 crore for the quarter under consideration from Rs 832.18crore in the same period last fiscal, the company said.

During the quarter the company witnessed lowering of thematerial costs by Rs 37 crore, Cipla said.