Q2 Results: Cipla Registers 5.7% Rise In Revenue, Reports PAT At Rs 789 Cr
Cipla Limited, an Indian pharmaceutical company headquartered in Mumbai has reported its earnings for the quarter ended 30th September 2022, the Indian pharmaceutical giant has registered a 5.7 per cent rise in consolidated revenue to be recorded at Rs 5,838.54 crores in the Quarter Two of Financial Year 2022(Q2FY220) up from Rs 5,519.80 crores in the corresponding quarter last year.
The pharmaceutical company’s net profit also jumped by 10.91 per cent quarter on quarter in Q2FY22, the company recorded a net profit of Rs 788.90 crores in the September quarter.
The company saw an increase of Rs 77.54 crores from the earnings of the same quarter last year which stood at Rs 711.36 crores.
The company said its US business reported a multi-quarter high of USD 179 million in revenue and 25 per cent year on year growth on the back of successful launch of Lenalidomide and continued market share expansion in Lanreotide.
“Our Q2FY23 performance reflects strong momentum in One-India business and solid execution on differentiated portfolio in the US including the launch of Lenalidomide, driving our overall revenue to a multi-quarter high and expansion in our reported operating profitability, despite external headwinds,” said Umang Vohra, Managing Director, Cipla Pharmaceuticals Ltd.
Vohra said that the company’s reported operating profitability of 22.3 per cent is tracking well within the full year guidance of 21-22 per cent range. “Our proactive logistics management, cost rigor and calibrated pricing actions have helped offset the adverse impact of inflationary cost elements on profits,” he said.
He said the company is also closely working with USFDA on Goa observations, “de-risking key assets and improving compliances holistically across manufacturing locations,” Vohra added.
Cipla’s R&D investments for the quarter stands at Rs 335 crores or 5.8 per cent of sales, 22 per cent higher year on year driven by on-going clinical trials on a respiratory asset and other developmental efforts.
The company’s pharmaceutical sales for the September quarter amounted to Rs 5,690.68 crores, a 4.8 per cent rise against the same quarter last year.
