Cipla Q3 Profit Dips 2.6% To Rs 729 Crore

New Delhi:

Drug main Cipla on Tuesday reported a 2.6 per cent decline in its consolidated revenue after tax to Rs 729 crore for the third quarter ended on December 31, 2021.

The Mumbai-based firm had posted a consolidated revenue after tax (PAT) of Rs 748 crore within the October-December quarter of 2020-21 fiscal.

Whole income from operations, nonetheless, rose by 6 per cent to Rs 5,479 crore within the third quarter as in contrast with Rs 5,169 crore in the identical interval of final fiscal, Cipla stated in a regulatory submitting.

“I’m happy to see the robust launch and business momentum throughout our core markets in the course of the quarter. Our portfolio execution in branded markets of India and South Africa and robust respiratory traction driving our US generic franchise to a multi-quarter excessive quarter had been key drivers,” Cipla MD and World CEO Umang Vohra famous.

The unlocking of the corporate’s first peptide asset, lanreotide injection is a crucial step in strengthening advanced generics engine, inching up the drug maker’s US footprint, he added.

“Our EBITDA margins for the quarter got here in at 22.7 per cent and given the yr up to now traction, we’re properly positioned to shut the yr in-line with our steerage of twenty-two per cent. We proceed our efforts to enhance affected person entry for therapies together with covid merchandise and guaranteeing ample provide throughout all our markets,” Vohra acknowledged.

The corporate stated its home revenues stood at Rs 2,518 crore within the third quarter, up 13 per cent from Rs 2,231 crore in the identical interval of earlier fiscal.