Cipla’s third quarter net profit witnessed a decline
New Delhi:
Drug giant Cipla on Tuesday reported a 2.6 percent decline in its after-tax consolidated profits to Rs 729 crore for the third quarter ended December 31, 2021.
The Mumbai-based company had posted a consolidated profit after tax (PAT) of Rs 748 crore in the October-December quarter of fiscal year 2020-21.
However, total revenue from operations rose 6 percent to Rs 5,479 crore in the third quarter, compared to Rs 5,169 crore in the same period of the last fiscal year, Cipla said in a regulatory filing.
“I’m excited to see strong launch and commercial momentum in our core markets during the quarter. Our portfolio execution in branded markets of India and South Africa and strong breathing traction that propelled our US generic franchise to a multi-quarter high quarter were key drivers,” noted Cipla MD and Global CEO Umang Vohra.
Unlocking the company’s first peptide asset, lanreotide injection, is an important step in strengthening the complex generic engine, expanding the drugmaker’s U.S. footprint, he added.
“Our EBITDA margins for the quarter came in at 22.7 percent and given the traction of the year so far, we are well positioned to end the year in line with our expectation of 22 percent. We are continuing our efforts to improve patient access to therapies including covid products and ensure adequate supply in all our markets,” said Vohra.
The company said its third-quarter domestic revenue was Rs 2,518 crore, up 13 percent from Rs 2,231 crore in the same period of the previous fiscal year.
