Cipla net soars 43% on growth in India, other key markets

The firm reported better performance in branded prescription and trade generics business

- Naman Suri

Cipla Ltd posted a 43.4% rise in consolidated net profit for the quarter ended September to ₹1,130.91 crore, against ₹788.90 crore in the corresponding quarter of last year.

The drug major’s Q2FY24 revenue increased 14.6% from a year ago from ₹5,828.54 crore to ₹6,678.15 crore, driven by performance in India, the US, and South Africa, it said in an exchange filing on Friday.

“These results reflect the strength of our core business across key markets of India, North America, and South Africa. We reported our highest-ever quarterly revenue with Ebitda margins scaling up to 26%. One-India business grew at a healthy 10% y-o-y with continued market-beating performance in the branded prescription and trade generics business. In South Africa, the private market business grew in double digits driven by strong execution across prescription and OTC," said Umang Vohra, managing director and global CEO of Cipla. “...Our pipeline is progressing well with key milestones achieved in Respiratory and Peptide assets. We will continue our focus on driving profitable growth across businesses."