Cipla Q4: Net profit jumps 45% YoY to Rs 526 crore; final dividend of Rs 8.5/share declared

Cipla on May 12, 2023, reported a 45 per cent year-on-year (YoY) jump in its consolidated net profit at Rs 525.65 crore for the quarter ended March 31, 2023. The drug major had reported a profit of Rs 362.07 crore in the year-ago period. Total revenue from operations during the quarter under review came in at Rs 5,739.30 crore, up 9 per cent against Rs 5,260.33 crore in the corresponding quarter of the previous fiscal. The profit missed analysts' estimates as ZEE Business Research had projected it to surge 88 per cent to Rs 680 crore.

The company's earnings before interest, tax, depreciation, and amortisation (EBITDA) rose 54 per cent YoY to Rs 1,174 crore against Rs 763 crore logged in March 2022 quarter. For the full year (FY22-23), the company's total revenue from operations stood at Rs 22,753 crore, up 5 per cent against Rs 21,763 crore last year. EBITDA for the full year rose 10 per cent YoY to Rs 5,027 crore. PAT increased 11 per cent YoY to Rs 2,802 crore. 

The company has also announced a final dividend of Rs 8.50 per share.

Commenting on the result, Umang Vohra, MD and Global CEO, of Cipla Ltd, “I am pleased to share that we continue to make significant progress across our focused markets. In FY23, we recorded the highest-ever revenue with EBITDA crossing Rs 5,000 crore for the first time. Our One-India business continued the double-digit trajectory growing at 13 per cent ex-Covid during the year led by branded prescription and sustained growth across our acute and chronic therapies. Our continued focus on a differentiated portfolio has strengthened our US business which posted the highest-ever quarterly revenue at $ 204 Mn and $ 733 Mn for FY23. Adjusting for COVID, our core operating profitability continues to be strong at nearly 23 per cent, expanding by 100 bps over last year. We are excited for the upcoming year, where we look forward to deepening our leadership in branded markets and expanding our differentiated pipeline in the US.”

Source: Earnings press release