Cipla Q3 results: Net profit jumps 113% to Rs 748 crore, beats Street estimates; revenue rises 18%

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Cipla Q3 results: Net profit jumps 113% to Rs 748 crore, beats Street estimates; revenue rises 18%


MUMBAI: Cipla today reported a 113 per cent jump in its consolidated net profit to Rs 748.2 crore for the quarter ended December. The drug maker’s consolidated revenues rose 18.2 per cent on year to Rs 5,168.7 crore.

Analysts had expected 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’s other income in the quarter rose 20.5 per cent on year to Rs 86.94 crore. The company’s total expenses in the quarter climbed 7.55 per cent on year to Rs 4,234.16 crore.

The company’s consolidated operating profit in the quarter jumped 69 per cent on-year to Rs 1,281 crore, while its consolidated operating margin stood at 24.8 per cent, up 744 basis points on year.

Analysts had expected drug maker’s operating performance in the quarter to grow 39 per cent on-year to Rs 1,053.9 crore. Similarly, the company’s operating margin was expected to rise 413 basis points to 21.5 per cent.

“I am pleased to see the strong execution across our markets and continued efforts on cost optimisation helping us drive revenue growth of 18% YoY and a healthy EBITDA margin of 24.8%,” said managing director and global chief executive officer Umang Vohra.

The company’s revenues in the US market rose 6 per cent year-on-year to $141 million. In India, the company’s sales rose 22 per cent on-year to Rs 2,231 crore.

In India, we have maintained market beating performance across our core therapies as contribution from the Covid-19 portfolio normalises, in-line with the reduction in infection cases, Vohra said.

The company’s performance in emerging markets and Europe was also strong in the December quarter. Sales in Europe grew 33 per cent on-year to Rs 252 crore, while the same in emerging markets rose 51 per cent to Rs 488 crore.

Cipla’s investment on research and development in the quarter stood at Rs 221 crore, or 4.3 per cent of revenues.





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