Cipla’s profit after tax up 11% to Rs 789 crore

Mumbai:

Pharmaceutical firm Cipla has announced a 10.9 per cent increase in its profit after tax to Rs 789 crore for the quarter ended September 2022, from Rs 711 crore in the year-ago period.

The firm said total revenue from operations grew 5.6 per cent to Rs 5,829 crore in the quarter under review, as against Rs 5,520 crore in the same period last year. Its earnings before interest, tax, depreciation and amortization (Ebitda) rose 6.2 per cent to Rs 1,302 crore from Rs 1,226 crore in the year-ago period.

In terms of sales performance, India business grew 6.1 per cent in September quarter over corresponding quarter last year, North America business up 35 per cent, South Africa, Sub-Saharan and Cipla Global Access business down 12.8 per cent . According to a statement by the pharmaceutical firm, sales in the international markets declined by 7.1 per cent.

Its active pharmaceutical ingredient business also declined 9.2 per cent in terms of sales in the quarter under review as compared to the same period a year ago.

Umang Vohra, Managing Director and Global CEO, Cipla, said, “Our Q2FY23 performance reflects strong momentum in the One-India business and solid execution across our different portfolio in the US, including the launch of Lenalidomide, which increases our overall revenue. Quarterly high and expansion in our reported operating profitability despite external adversities. Our reported operating profitability is 22.3 percent and well within our full year guidance of the 21-22 percent range Watching from.”

He said, “Our proactive logistics management, cost rigor and calibrated pricing actions have helped to offset the adverse impact of inflationary cost elements on profits. We are working closely with the US FDA on Goa observations, key assets.” risk taking and improving compliance in manufacturing as a whole.”

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