New Delhi– Pharmaceutical major Cipla said on Wednesday that its net profit for the second quarter of 2016-17 dropped by 35 per cent to Rs 354 crore compared to Rs 543 crore posted during the corresponding quarter in 2015-16.

In a regulatory filing, the company said that it posted a total income of Rs 3,751 crore from operations in the quarter compared to Rs 3,455 crore posted during the same period a year ago.

“The performance reflects improvement in the quality of the base business, endorsing our strategic intent of investing in the future through increased research and development efforts. We continue to stay focused on building operational efficiencies and strengthening our presence in priority markets,” said Umang Vohra, MD and Global CEO, Cipla.