Pharmaceutical giant Cipla has registered a growth of 29.35% in its standalone net profit for the three month period ended December 2009.

For the quarter ending on Dec 2009, net profit of the company stood at Rs 289 crore as compared to Rs 223 crore for the same quarter of 2008.

Cipla’s net sales during the third quarter surged 6.32% to Rs 1358 crore as against Rs 1280 crore for the quarter ended December 2008.

In its formulations sale in India, Cipla recorded an increase of 14% during the quarter to Rs 659.21 crore as against Rs 578.06 crore in the corresponding quarter last year.

The company’s exports in the third quarter dropped to Rs 698 crore from Rs 702 crore earlier.

In a statement, the company said that the export of finished dosage forms also remained down at Rs 575 crore as against Rs 590 crore during the same period of 2008. The export of active pharmaceutical ingredients surged up to Rs 122 crore during the third quarter as against Rs 111 crore in 2008.

Moreover, the drug manufacturer has revised downwards its growth chart from 10-12% to 8-10%, for the existing fiscal.

Mr. Amar Lulla, Cipla's Chief Executive stated that the rising Indian currency and fears over the procurement of CFC gas for its inhalers led to the revised estimation.

At 3:38 pm, the shares of the company surged 0.6% to trade at Rs 320.90 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 363 and a low of Rs 185.35 on BSE.

Current EPS & P/E ratio stood at 13.19 and 24.32 respectively.