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    Cipla Q3 results: Profit inches up 6% to Rs 351 crore, misses projections

    Synopsis

    Analysts in an ET NOW poll had projected the number at Rs 431 crore.

    Cipla Q3 profit inches up 6% to Rs 351 crore
    NEW DELHI: Drug major Cipla on Wednesday reported a consolidated profit of Rs 351.03 crore for the December quarter, up 5.7 per cent year-on-year (YoY) compared with a profit of Rs 332.20 crore in the same period last year.

    Analysts in an ET NOW poll had projected the number at Rs 431 crore.

    Net revenue came in at Rs 4,371 crore, up 9 per cent from Rs 4,007.54 crore in the year-ago period.

    The company reported an Ebitda margin of 17.3 per cent, while adjusted margin -- taking into account overhead charge on FG inventory movement in Q3 -- was at 18.5 per cent.

    Umang Vohra, MD and Global CEO, said: “India business continued its momentum with strong double-digit growth in the prescription business. Growth was also coming back in the generics business, while South Africa’s private market franchise continued to outperform the market significantly. The US generics business retained a healthy share in key assets despite multiple competitive entries.”

    The company said overall business grew 13 per cent, while prescription business’ growth was at 14 per cent, and trade generics business recorded growth of 7 per cent over the previous year.

    “South Africa private business continued the strong growth momentum to deliver a growth of 20 per cent YoY in local currency, while US business delivered $133 million in revenue to grow at 13 per cent,” the firms said in a release.

    R&D investments stood at Rs 308 crore or nearly 7 per cent of total sales.



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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