Cipla Q4 Results: Net profit soars 79%, beats analysts estimates
Cipla Q4 Results: Pharmaceutical company Cipla reported a 78.6 per cent year-on-year jump in consolidated net profit to Rs 939 crore for the March quarter, exceeding analysts expectations.
Cipla Q4 Results: Mumbai-headquartered pharmaceutical company Cipla on Friday reported a consolidated net profit of Rs 939 crore for the January-March period, marking an increase of 78.6 per cent compared with the corresponding quarter a year ago. The net profit was better than analysts' expectations.
The drug maker's revenue grew 7.4 per cent on a year-on-year basis to Rs 6,163.2 crore for the fourth and final quarter of the last financial year, according to a regulatory filing.
According to Zee Business research, Cipla's fourth-quarter net profit was estimated at Rs 909 crore and revenue at Rs 6,198 crore.
Cipla shares succumbed to negative territory as the drug maker staged an operationally weak performance for the three-month period
At 2:50 pm, the Cipla stock was down 1.1 per cent for the day at Rs 1,344.1, having fallen as much as 3.0 per cent to Rs 1,317.6 apiece.
Cipla clocked 13 per cent year-on-year growth in quarterly earnings before interest, taxes, depreciation and amortisation (EBITDA) to Rs 1,316 crore, and its margin, a key measure of profitability, stood at 21.4 per cent.
Zee Business analysts had pegged the drug maker's fourth-quarter EBITDA at Rs 1,395 crore and margin at 23 per cent.
“I am pleased to share our performance for the year where we made substantial progress across our focused markets. In FY24, our revenues crossed the threshold of Rs 25,000 crore whereas operating margins significantly improved to cross Rs 6,000 crore for very first time, growing at healthy 14 per cent on topline and 26 per cent on profitability YoY," said Umang Vohra, MD and Global CEO, Cipla.
For the financial year 2023-23, Cipla said its revenue increased 14 per cent to Rs 25,455 crore compared with the previous year.
"As we enter into FY25, our focus will be on our priorities of market leading growth in our key markets, growing big brands bigger, investing in future pipeline as well as focusing on resolutions on regulatory front," Vohra added.
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