Cipla Profit Rises 6% To Rs 478 Crore In June Quarter

Drug maker Cipla on Wednesday reported a net profit of Rs 478.19 crore in the April-June period. That marked an increase of 5.97 per cent compared to the corresponding period a year ago. In a regulatory filing during market hours, Cipla said its revenue from operations grew 1.27 per cent to Rs 3,989.02 crore in the quarter ended June 30. The pharmaceuticals major had posted a revenue of Rs 3,938.99 crore in the first quarter of financial year 2018-19.

In a presentation to investors, the company said that despite significant global volatility and revenue deferrals, its profitability was maintained in the first quarter of the current financial year.

The Mumbai-based drugmaker said its international sales grew 8 per cent to Rs 2,466 crore in the quarter. Its domestic sales however declined 8 per cent to Rs 1,429 crore.

Its revenue from the pharmaceuticals business stood at Rs 3,959.93 crore, marking a year-on-year increase of 1.22 per cent. Its India operations contributed 34 per cent to the total revenue while North America accounted for 28 per cent, Cipla said in its presentation.

The company said that its earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 25 per cent on year to Rs 905 crore in the April-June period.

Shares in Cipla jumped as much as 4.97 per cent during the session, before settling with a gain of 3.76 per cent on the BSE after the earnings announcement, outperforming the benchmark Sensex index which fell 0.77 per cent.

For the year ended March 31, 2019, the company had reported a net profit of Rs 1,527.70 crore, up 8.31 per cent compared to the previous year.