Samina Hamied has stepped down as Cipla’s Executive Vice Chairperson. She will remain with the company as a non-executive director, with the option to retire through rotation. The official cited “personal and family commitments” for the transfer, which is slated to take effect on March 31.
“Samina Hamied has decided to step down as Executive Vice Chairperson of the Company. She will continue as a non-executive director, liable to retire by rotation.” “The Board accepted the above letter at its meeting today,” the business stated in a regulatory filing on Thursday. The Cipla Vice Chairman is a representative of the promoter family’s third generation. She is the daughter of MK Hamied, who serves as the non-executive vice-chairman, and the niece of YK Hamied, the non-executive chairman. Samina expressed gratitude to both in her letter to the board.
“Ten years ago, they held the belief that Cipla required a dedicated and involved promoter from the upcoming generation to guide and fortify the company. During this time, we established a world-class leadership team, expanded into new regions, and nurtured new ventures. Now, as I relinquish my executive role, I take pride in stating that Cipla stands strong, resilient, and well-prepared for the future,” she expressed. Despite Cipla announcing a 32.25% increase in third-quarter profit to ₹1,068.41 crore, significant developments took place. The company had recorded a consolidated profit of ₹807.83 crore in the corresponding period last year. The quarter’s consolidated revenue from operations stood at ₹6,603.81 crore, reflecting a growth of 13.66%.
In the corresponding period last year, the company reported a consolidated profit of ₹807.83 crore. Cipla’s total income for the third quarter amounted to ₹6,788.44 crore, reflecting a 14.58% increase. In this quarter, revenue from pharmaceuticals reached ₹6,365.06 crore, and revenue from new ventures was ₹280.51 crore.
