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Cipla Q2 profit surges 25% to Rs 471 crore, revenue rises 10%

Cipla Q2 results: Consolidated revenue from India business grew 9 per cent yoy to Rs 1,810 crore, while international business delivered a growth of 8 per cent yoy at Rs 2,454 crore

twitter-logo BusinessToday.In   New Delhi     Last Updated: November 6, 2019  | 16:21 IST
Cipla Q2 profit surges 25% to Rs 471 crore, revenue rises 10%
Cipla Q2 results: As of September 30, 2019, the company's total debt stood at Rs 3,557 crore, while equity was at Rs 15,910 crore

Drug maker Cipla has reported 25 per cent year-on-year (yoy) jump in its consolidated net profit at Rs 471.35 crore for the second quarter ended September 30, 2019. However, the profit was down 1 per cent compared to Rs 478 crore in June quarter of this financial year.

"The pharma major had posted a consolidated net profit of Rs 377.05 crore in the corresponding quarter last year," Cipla said in a filing to the Bombay Stock Exchange.

Cipla's revenue from operations rose 10 per cent to Rs 4,396 crore in Q2FY20 as against Rs 4,012 crore in Q2FY19. The total revenue stood at Rs 4,4496 crore, in comparison to Rs 4,144 crore in the year-ago period.

Consolidated revenue from India business grew 9 per cent yoy to Rs 1,810 crore, while international business delivered a growth of 8 per cent yoy at Rs 2,454 crore.

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"Both prescription and trade generic businesses in India grew strongly to deliver 29 per cent sequential growth in the quarter; prescription business grew 13 per cent year on year and the trade business grew by 61 per cent sequentially," Cipla said.

On the international front, South Africa private business delivered growth of 13 per cent on a year on year basis in local currency, while the US business posted $135 million to grow at 25 per cent on a yearly basis.

The company reported EBITDA (Earnings before Interest, Tax, Depreciation and Amortisation) of Rs 909 crore for the September quarter, 21 per cent higher than Rs 753 crore reported during the corresponding quarter last year. The EBITDA margin increased to 20.7 per cent from 18.8 per cent in September quarter of the last financial year.

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Speaking on Q2 performance, Umang Vohra, MD and Global CEO, Cipla said, "Our home markets continued to bode well. India business recorded robust performance in trade generics and across all key therapies in branded business while in South Africa, the private market business outpaced the market significantly."

As of September 30, 2019, the company's total debt stood at Rs 3,557 crore, while equity was at Rs 15,910 crore. Following Q2 earnings, shares of Cipla were trading 2.87 per cent higher at Rs 481 apiece on the Bombay Stock Exchange.

Edited by Chitranjan Kumar

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