Companies

Strong sales lift Cipla’s Q1 net profit 27 per cent to Rs 566 cr

PTI New Delhi | Updated on August 07, 2020 Published on August 07, 2020

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Drug firm Cipla on Friday reported a 26.58 per cent rise in its consolidated net profit to Rs 566.04 crore for the quarter ended June on the back of robust sales.

The company had posted a net profit of Rs 447.15 crore for the corresponding period of the previous fiscal, Cipla said in a BSE filing.

Total revenue from operations for the quarter under consideration stood at Rs 4,346.16 crore. It was Rs 3,989.02 crore for the same period a year ago, it added.

“During the quarter, our businesses actively re-imagined their operating models to drive strong growth across markets in India, South Africa, the US and focused execution on cost optimisation helped drive the quarter EBITDA to 24 per cent,” Cipla MD and Global CEO, Umang Vohra, said.

The company is also at the forefront in combating Covid-19 through its strategic partnerships and a spectrum of offerings in its portfolio, he added.

“Our global lung leadership aspirations continued to gain momentum along with limited competition launches in the US,” Vohra said.

Shares of Cipla Ltd closed at Rs 728.60 per scrip on the BSE, down 0.42 per cent over the previous close.

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Published on August 07, 2020
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