Cipla clocks ₹447 crore profit in Q1
.jpg)
NEW DELHI: Drug major Cipla on Wednesday reported a marginal rise in consolidated net profit at ₹447.15 crore for the quarter ended June 30, 2019.
The company had posted a net profit of ₹445.61 crore in the year-ago period, Cipla said in a filing to BSE.
Total revenue from operations stood at ₹3,989.02 crore for the quarter under review as against ₹3,938.99 crore for the same period a year ago.
"We witnessed a muted first quarter in FY'20 owing to a combination of external volatility and some conscious business decisions taken with the long-term sustainability in mind," Cipla MD and Global CEO Umang Vohra said.
The company's secondary growth in its flagship therapies in India and in the South Africa private market remained impressive, and its base business in the US saw year-on-year growth with increased revenue from recent high-value launches, he added.
"Our business fundamentals remain strong, and our overall base business profitability was maintained at healthy levels despite the volatility," Vohra said.
Cipla's growth drivers remain on track with sustained expansion of its basket of biosimilars in emerging markets, entry into new markets such as China to set up respiratory franchise, and further depth in the US specialty pipeline with Zemdri, he added.
The company received EIR for the Kurkumbh plant for the inspection by the United States Food and Drug Administration (USFDA) from March 11-20, 2019, Cipla said.
Shares of Cipla ended at ₹519.00 per scrip, up 3.76% on BSE.
Other Latest News
.webp)
Prime Minister Narendra Modi on Monday (local time) held a bilateral meeting with his Italian counterpart, Giorgia Meloni, on the sidelines of the G20 Summit in Brazil. PM Modi stated that their discussions focused on strengthening ties in defence, security, trade, and technology. He remarked, "India-Italy friendship can greatly contribute to a better planet."
.webp)
The Andhra Pradesh government has repealed the two-child norm for candidates contesting local body elections. The state assembly on Monday passed the AP Panchayat Raj (Amendment) Bill, 2024, and the AP Municipal Laws (Amendment) Bill, 2024, effectively removing the decades-old restriction, reported NDTV.
The two-child policy was introduced in May 1994, mandating that candidates seeking election to Gram Panchayats, Mandal Praja Parishads, and Zilla Parishads should not have more than two children.
.webp)
Police have registered a case against four unidentified persons on charges of attempt to murder after NCP (SP) leader and former Maharashtra home minister Anil Deshmukh was seriously injured in stone pelting at his car in Nagpur, officials said on Tuesday.
The incident took place at around 8 pm on Monday and Deshmukh was later admitted to a private hospital in Nagpur.
.webp)
Amid alarmingly high pollution levels in Delhi, Environment Minister Gopal Rai on Tuesday urged the Centre to convene an emergency meeting to tackle the issue and said it is the moral responsibility of Prime Minister Narendra Modi to intervene in the matter.
Addressing a press conference, Rai said the Centre has not acted on the Delhi government's repeated requests to allow artificial rain in the national capital and he will again write to Union Environment Minister Bhupender Yadav.
.webp)
The Enforcement Directorate (ED) has uncovered "direct links" between e-commerce giants Amazon and Flipkart and their preferred sellers, The Economic Times reported on Tuesday. The central probe agency is investigating alleged violations of foreign investment laws by the companies.
According to the report, the ED quizzed the “top” five sellers of both firms and found that many of these sellers are either former employees or relatives of former associates of Amazon and Flipkart.
.webp)
.webp)
.webp)
.webp)
.webp)
