Cipla's profit falls 8% in fourth quarter

Drug major Cipla on Wednesday reported an 8.28 per cent decline in its net profit at Rs 267.56 crore for the fourth quarter ended March 31, 2013 mainly due to higher tax expenses.

It had posted a net profit of Rs 291.74 crore for the corresponding period of the previous fiscal, the company said in a statement.

Total income from operations, however, rose to Rs 1,966.69 crore for the quarter under consideration from Rs 1,865.58 crore for the same period a year ago.

In a filing to BSE the company said its Board of Directors has recommended a dividend of Rs 2 per equity share (face value Rs 2) for the year 2012-2013, amounting to Rs 160.58 crore.

Net profit of the company for the year ended March 31, 2013 stood at Rs 1,507.11 crore as against Rs 1,123.96 crore for the year ago period.

Total income from operations of the company for the year ended March this year rose to Rs 8,202.42 crore from Rs 6,977.50 crore for the same period year ago.

International business contributed 59 per cent to the company's revenues for the quarter under consideration, Cipla said.

Segments such as anti-asthma, anti-biotics/infectives, cardiovascular therapy, anti-allergic, anti-depressants, and anti-retroviral were main drivers for the revenues for the fourth quarter ended March 31, 2013, it added.