Analysts expect Cipla to report a consolidated net profit of Rs 616.8 crore on net sales of Rs 5,003 crore, according to estimates from six brokerages polled by ETMarkets.com. The company will report its earnings on Friday.
The strong performance of the company will be helped by the Indian operations where Kotak Institutional Equities expects sales to grow over 17 per cent on-year led by the higher sales of the company’s Covid-19 drugs like Remdesivir and Tocilizumab.
In the US, the company is likely to benefit from the launch of the albuterol drug in the market earlier in the financial year. Brokerage firm Kotak Equities expects sales to rise by $4 million sequentially to $145 million. Brokerage firm Motilal Oswal Financial Services expects the US sales to rise 19 per cent on-year to $163 million.
The drug maker’s operating performance in the quarter is expected to be firm as Edelweiss Securities expects consolidated earnings before interest, tax, depreciation and amortisation to grow 39 per cent on-year to Rs 1,053.9 crore. Similarly, the company’s operating margin may rise 413 basis points to 21.5 per cent.
Shares of Cipla ended 0.3 per cent lower on Thursday at Rs 840.30 on the National Stock Exchange.