NEW DELHI: Drug major on Tuesday reported a 12.41 per cent drop in consolidated net profits for the quarter ending March at Rs 362.07 crore, against Rs 413.38 crore in the same quarter last year.
The profit figure is significantly lower than the ET Now analyst poll estimate of Rs 591 crore.
The total revenue from operations was Rs 5,260.33 crore, up 14.19 per cent from Rs 4,606.45 crore the company reported in the year-ago quarter.
“I am pleased to see the continued momentum across our key markets despite adverse seasonality impacting the overall business mix. Our One-India business continued the double-digit trajectory during the quarter. We crossed the $1 billion milestone in our domestic branded prescription business driven by the sustained growth across our acute and chronic portfolio,” said Umang Vohra, MD and Global CEO, Cipla.
“Our established respiratory franchise and contribution from peptide assets has strengthened our US run rate to $160Mn. Adjusting for covid linked and other one-time charges, our core operating profitability continues to be strong underpinned by the strength of our business fundamentals.”
The company said its One-India business witnessed a growth of 21 per cent growth across branded prescription, trade generics and consumer health over the last year. The growth was 15 per cent YoY growth adjusted for the Covid portfolio.
Overall SAGA region grew by 8 per cent on a YoY basis in USD terms; market-beating growth in SA private continues.
ETMarkets.com
US business reported $160 million in revenue and 17 per cent YoY growth thanks to strong traction in respiratory assets as well as contribution from peptide assets. Research and development (R&D) investments stood at Rs 322 crore or 6.1 per cent of sales during the quarter, higher by 16 per cent YoY driven by the initiation of clinical trials on a respiratory asset.
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ETMarkets.com