Companies

Cipla Q2 net profit up 39 per cent at Rs 659 cr

PTI New Delhi | Updated on November 06, 2020

Umang Vohra, Cipla MD and Global CEO

Pharma major Cipla on Friday reported a 38.95 per cent rise in its consolidated net profit to Rs 659.35 crore for the quarter ended September 30, 2020, mainly on account of robust sales in all markets.

The company had posted a net profit of Rs 474.50 crore for the corresponding period of the previous fiscal.

Consolidated income from operations stood at Rs 5,038.29 crore for the quarter under consideration. It was Rs 4,395.78 crore for the same period a year ago, it added.

“Yet another quarter of strong performance across our businesses with overall revenues growing 15 per cent on y-o-y basis. The performance reflects strong demand backed by resilient operations management,” Cipla MD and Global CEO Umang Vohra said.

The quarter also saw sustained focus on cost optimization which helped deliver an EBITDA (earnings before interest, taxes, depreciation, and amortization) margin of over 23 per cent, he added.

“We continued to deliver on our promise of Caring for Life by being at the forefront in combating COVID-19 through a spectrum of offerings, which also helped us deliver market beating performance in India,” Vohra said.

The company’s businesses in South Africa, the US and other international markets maintained the growth momentum with strong traction in the base business and new launches, he added.

“Overall South Africa business continued strong momentum to deliver growth of 14 per cent on a y-o-y basis in local currency for the quarter; new launches significant driver,” it added.

The business in North America for the quarter ended September was at Rs 1,049 crore as against Rs 953 crore for the same period a year ago, the filing said.

Shares of Cipla Ltd closed at Rs 789.90 per scrip on BSE, down 0.50 per cent over previous close.

Published on November 06, 2020

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