Cipla saw a decline in net profit in the third quarter
New Delhi:
Drug major Cipla on Tuesday reported a 2.6 per cent decline in its consolidated profit after tax at Rs 729 crore for the third quarter ended December 31, 2021.
The Mumbai-based company had posted a consolidated profit after tax (PAT) of Rs 748 crore in the October-December quarter of FY 2020-21.
However, total revenue from operations grew 6 per cent to Rs 5,479 crore in the third quarter as against Rs 5,169 crore in the same period last fiscal, Cipla said in a regulatory filing.
“I am pleased to see strong launch and commercial momentum in our core markets during the quarter. The execution of our portfolio in the branded markets of India and South Africa and strong respiratory traction driving our US generics franchise to a multi-quarter high The key drivers were Cipla MD and Global CEO Umang Vohra.
The opening of the company’s first peptide asset, lanreotide injection, is an important step toward consolidating the complex generic engine, expanding the drugmaker’s US footprint, he said.
“Our EBITDA margin for the quarter came in at 22.7 percent and given the traction year over year, we are well positioned to close the year in-line with our guidance of 22 percent. We look at patient access to treatment. Continuing our efforts to improve our products including COVID products and ensure adequate supply to all our markets,” Vohra said.
The company said its domestic revenue for the third quarter stood at Rs 2,518 crore, up 13 per cent from Rs 2,231 crore in the corresponding period of the previous fiscal.
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