Booked forex gains of Rs 70 crore in the quarter : Cipla
Amar Lulla, CEO of Cipla said that the company booked forex gains of Rs 70 crore in the quarter. OPMs stood at 20.9%. Domestic growth stood at 11.3%. Capital expenditure is seen of Rs 1700 crore over the past 3 years. The company has taken enabling resolution to raise Rs 1500 crore. The company is most likely to raise the money via equity issue.
He further said that the forex loans of the company stands at $ 96 million. He said that he is expecting blended growth of 10-12% for the year. He feels that the company will maintain margins above 20%. He expect volume growth of 10-12%.
Cipla Q1FY10 net profit stood at Rs 242 crore Vs Rs 140 crore and net sales stood at Rs 1,325 crore Vs Rs 1,207.1 crore. Cipla board approved raising Rs 1,500 crore. The fund raising will be done by the company via QIP/ADR/GDR/FCCB issue.
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