Cipla's profit jumps 24% YoY to Rs 715 cr in Apr-June quarter; revenue up 27%

Indian pharma major Cipla on Thursday posted a net profit of Rs 715 crore in the April-June quarter of the current fiscal. The firm's profit after tax (PAT) was up 24 per cent from Rs  578 crore in the same quarter of the previous fiscal.

Cipla registered a 27 per cent YoY jump in revenue from operations at Rs 5,504 crore during the June-end quarter. The pharma firm's earnings before interest, taxes, and amortisation (EBITA) stood Rs 1,346 crore in Q1 of FY22, compared to Rs 1,039 crore in Q1 of last year.

The firm saw its India business grow 68 per cent year-on-year from Rs 1,608 crore in Q1 of FY21 to Rs 2,710 crore in the April-June quarter of FY22.

The firm also recorded strong growth in its active pharmaceutical ingredients (API) business, which grew 64 per cent YoY. Cipla said its branded prescription business continued "market-beating performance", driven by the volume growth in core therapies and support from the existing and new introduction in its coronavirus portfolio during the second wave of the COVID-19 pandemic.

Trade generics business reported healthy order flow across regions, benefiting from strong demand for its core portfolio and COVID ancillary products.

Umang Vohra, MD and Global CEO, Cipla said, "I am pleased to see the robust demand-led traction in core therapies across our branded markets and continued cost control leading to 27 per cent revenue growth and 24.5 per cent EBITDA margin for the quarter. In India, we maintained our market beating performance as core therapies responded to demand triggers along with support from Covid portfolio during the second wave."

Cipla's US business' revenue grew marginally, 5 per cent YoY, to $141 million in the April-June quarter of FY22. The growth was led by continued expansion in the market share of its drug - Albuterol. While in South Africa, the firm posted a YoY growth of 16 per cent to Rs 634 crore in Q1 of FY22.

Also Read: Aurobindo Pharma looks to commercialise COVID-19 vaccine, expand API production

Also Read: Glenmark Pharma teams up with Canadian firm produce anti-COVID nasal spray