New Delhi: Drug major Cipla today reported a consolidated net profit of Rs 153.25 crore for the quarter ended March 31, 2018 mainly on account of robust sales in key markets and reduction in expenses.
The company had posted a net loss of Rs 62.79 crore during January-March, 2016-17, Cipla said in a BSE filing.
Total income from operations stood at Rs 3,697.97 crore. It was Rs 3,582 crore for the same period a year ago.
For entire 2017-18, the company posted a net profit of Rs 1,416.57 crore. It was Rs 1,035.42 crore for the previous year.
Total income from operations during 2017-18 stood at Rs 15,219.25 crore. It was Rs 14,630.24 crore in the preceding year.
"This financial year (2017-18) our focus remained on strengthening our portfolio and deepening our presence in priority markets," Cipla MD and Global CEO Umang Vohra said.
The company's efforts on cost and efficiency improvement helped it deliver the full year margin ahead of its guidance range, he added.
"Our focus for next year will be to continue our growth trajectory in key markets and investments in portfolio for sustainable growth," Vohra said.
In a separate filing, Cipla said its board has approved raising up to Rs 4,000 crore via various instruments including non-convertible debentures.
The company's board has recommended a final dividend of Rs 3 per equity share for 2017-18, Cipla said.
Shares of Cipla today closed at Rs 524.35 per scrip on BSE, up 0.88 per cent from its previous close
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