The Hindu Business Line : Cipla Q1 net profit down 30%

Mumbai, July 20 The appreciating rupee and high import costs caused a 30 per cent dip in Cipla Ltd’s net profit after tax for the first quarter or three months ended June 30, 2007. The company clocked a net profit of Rs 119.76 crore for the quarter ended June 30, 2007, as compared to Rs 170.43 crore in the corresponding quarter in the previous year.

Total income (net of excise) has increased from Rs 882.05 crore for the quarter ended June 30, 2006 to Rs 920.37 crore for the quarter ended June 30, 2007, the company told the Bombay Stock Exchange. Cipla shares on the BSE were down 2.21 per cent, at Rs 200.90.

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