Cipla Q1 net down 43%

New Delhi, Aug 12: Pharma major Cipla on Friday reported 43.19% decline in consolidated net profit to R365.24 crore for the quarter ended June 30.

The group had posted a net profit of R649.22 crore for the corresponding period of the previous fiscal, Cipla said in a filing to BSE.

Consolidated total income from the operations also declined to R3,593.72 crore for the quarter under consideration as against R3,838.45 crore for the same period a year ago.

Shares of Cipla on Friday closed at R516.65 per scrip on BSE, down 1.26% from its previous close.

Cipla names Samina Vaziralli as executive vice-chairman

In a major top management rejig, pharma major Cipla on Fridaty named Samina Vaziralli as executive vice-chairman and Umang Vohra as the managing director and Global CEO with effect from September 1, 2016.

Vaziralli, daughter of MK Hamied — the company’s nonexecutive vice-chairman — has been a part of the core leadership team since joining the Mumbai-based firm in 2011. “Samina Vaziralli, executive director and the global head - Strategy, M&A and Cipla New Ventures will be the executive vice-chairman of Cipla effective September 1, 2016,” Cipla said in a statement.

She will move on from her current responsibilities to focus on board and governance issues, in addition to growing Cipla's strategic priorities through key global partnerships, corporate brand building and public advocacy, it added. PTI