Cipla Q2 net profit rises 7.6% to Rs712 cr, revenues up 9.6% at Rs5,519.8 cr
28 Oct 2021
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Cipla Ltd has posted a 7.6 per cent increase in its consolidated net profit at Rs712 crore for fiscal second quarter ended 30 September 2021 against a net profit of Rs661.8 crore in the corresponding quarter of the previous financial year.
Consolidated revenue from operations for the quarter increased by 9.6 per cent to Rs5,519.8 crore from Rs5,038.3 crore in the corresponding quarter of 2020-21.
Earnings before interest, tax, Depreciation, and amortisation (EBITDA) grew 4.2 per cent to Rs1,226.2 crore, against Rs1,176.7 crore in the corresponding period of the previous year.
Cipla said the overall business grew 16 per cent year-on-yearfrom a high FY21 base on the back of sustained rise in volume across core therapies. The company’s US revenue hit a multi-quarter high of $142 million led by a steady momentum in core products offsetting.
"Continued healthy net cash positive position led by growth in operating profitability and prudent working capital management; Prepaid $137.5 million outstanding InvaGen acquisition debt during the quarter. The branded prescription business continued strong performance driven by sustained volume traction across therapies in core portfolio; covid portfolio contribution normalising in-line with expectations," Cipla said.
Cipla said its generics business reported healthy order flow across regions benefiting from strong demand regions and continued momentum in flagship brands, while its consumer health business witnessed robust traction in anchor brands and transitioned brands.
South Africa private business continued market beating growth during the quarter; Market beating growth in CNS, respiratory and anti-infectives therapies.
"I am pleased to see the strong momentum in core therapies across our branded markets and sustained cost control leading to 10 percent revenue growth and 22.2 percent EBITDA margin for the quarter, offsetting price erosion and normalising covid contribution. In India, we continue to drive strong performance led by sustained volume traction despite a high FY21 base," said Umang Vohra, MD and Global CEO, Cipla Ltd.
"Our collaboration with Eli Lily for their diabetes products helps us further strengthen our endeavour of creating access to innovative medicines in line with the One-India strategy. The US business also witnessed healthy run-rate driven by core portfolio and desired traction in respiratory franchise across Albuterol and Arformoterol," Vohra said.
The results came after the close of the market hours. Shares of Cipla ended at Rs907.30 on Monday, up Rs5.40, or 0.60 per cent on the BSE.
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