Cipla’s Q2 net jumps over 17%

India’s second largest drug maker by domestic sales, Cipla has reported a jump of 17.44% in its standalone net profit at Rs 308.97 crore for the second quarter ended September 30, 2011 on increased sales and cost savings. The company had posted a net profit of Rs 263.08 crore in the July-September quarter of the previous fiscal.

Total income of the company also rose by 9.16% to Rs 1802.33 crore during the reporting quarter from Rs 1651.03 crore in the year-ago period.

Exports to Africa were up 41% and the firm benefited from operational efficiencies in material consumption and product mix. Cipla’s sales in the domestic market grew on expected lines by 12%. Sales in Middle East were affected by changed market circumstances.