Cipla Q1 Profit higher by 29.73%

CiplaMumbai: Drug manufacturer Cipla posted a 29.73 percent enhancement in its net earnings at Rs 119.76 crore for the quarter ended June 30 as against Rs 170.43 crore for the same period of the last year.

The company’s total income (net of excise) augmented 4.34 per cent to Rs 920.37 crore for the June quarter against Rs 882.05 crore for the quarter ended June 30, 2006.

At the board meeting, the company’s directors also recommended a dividend of Rs 2 per equity share for the year 2006-2007 amounting to Rs 155.46 crore.

Shares of Cipla last traded at Rs 200.90, down 2.21 per cent on the BSE.

Cipla established as The Chemical, Industrial & Pharmaceutical Laboratories is one of the most important Indian pharmaceutical companies, and is well-known for making up economical anti-AIDS drugs.

The company was established in 1935 by Khwaja Abdul Hamied, and its chairman today is Yusuf Hamied (b. 1936), the founder's eldest son. At present, Cipla is the world's largest producer of antiretroviral drugs to fight HIV/AIDS, as measured by units produced, distributed and sold.