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Cipla Q1 results: Profit rises 21% to Rs 578 crore, generics segment boosts sales

Cipla on Friday reported a 21 per cent rise in consolidated profit after tax at Rs 578 crore in the April-June quarter

twitter-logoBusinessToday.In | August 7, 2020 | Updated 19:25 IST
Cipla Q1 results: Profit rises 21% to Rs 578 crore, generics segment boosts sales
Cipla Q1 results

Cipla on Friday reported a 21 per cent rise in consolidated profit after tax at Rs 578 crore in the April-June quarter as against Rs 478 crore in the corresponding quarter of last fiscal. Total revenue from operations saw a 9 per cent on-year growth at Rs 4,346 crore as against Rs 3,989 crore, Cipla said in an exchange filing.

Earnings before interest, tax, depreciation and amortisation (EBITDA) surged 16 per cent to Rs 1,049 crore as against Rs 905 crore. Cipla said that its India operations saw an on-year growth of 16 per cent in the quarter under review. The US business saw a 14 per cent QoQ growth. The healthy growth of the generics segment at 46 per cent over last year mainly led the growth in overall sales.

On coronavirus pandemic, the company said that it is closely monitoring the impact on all the aspects of its business.

"Extremely pleased to report our Q1FY21 performance which reflects the inherent strength of our business backed by agile and resilient operations, cost control initiatives and continued delivery on our strategic priorities," said Umang Vohra, MD and Global CEO of Cipla.

"During the quarter, our businesses actively re-imagined their operating models to drive strong growth across markets of India, South Africa, US and focused execution on cost optimisation helped drive the quarter EBITDA to 24 per cent," Vohra also said.

Shares of Cipla ended the intraday trade at Rs 732.80, up 1.70 points or 0.23 per cent on NSE.

Also read: Coronavirus update: This new drug dramatically recovered seriously ill COVID-19 patients

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