Ci­pla Q1 net down 43%

The Financial Express - - COMPANIES -

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

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