Cipla Q3 Results: Cipla Q3 Results: Net Income Slightly Drops to Rs 729 Chlore, Above Estimates

New Delhi: Tuesday PharmaMajor recorded a 2.61% year-on-year decrease in consolidated net income of Rs 728.60 compared to Rs 748.15 in the December quarter. That said, this figure was higher than the analyst’s estimate of 710 rupees from the ETNOW poll.

Revenue from product sales was Rs 5,442.86 in the third quarter of 2010, up 5.6% year-on-year from Rs 5,154.17 in the third quarter of 2009.

Total revenue from the business was Rs 5,478.86 for the ETNOW poll of Rs 5,420.

The Board has considered and approved the transfer of its Indian-based US business to Cipla BioTec Limited. It will be transferred to Cipla BioTec Limited, our wholly owned subsidiary, and the consumer business will be transferred to Cipla Health Limited. To consider 80 chlores as a continuing concern on a slumping sales basis through a business transfer agreement (BTA).

On a stand-alone basis, the company said its profits were up 4.57% to Rs 731. Revenue from product sales was Rs 3871, up 4.9% year-on-year.