Cipla Q4 Results: Profit jumps 45% YoY to Rs 526 crore, revenue rises 9%

Pharma major Cipla has reported a consolidated net profit of Rs 526 crore for the quarter ended March, up 45%, compared with Rs 362 crore in the year-ago period.

Revenue from operations during the quarter jumped 9% year-on-year to Rs 5,739 crore.

The Board has also recommended the payment of a final dividend of Rs 8.50 per equity share for the financial year ended March 2023.

The dividend, if approved by the shareholders, will be paid within 30 days from the date of AGM.

The company's EBITDA (earnings before interest, tax, depreciation, and amortisation) grew 54% to Rs 1,174 crore, while margins improved significantly by 596 bps to 20.5%.

The Indian business recorded robust growth across branded prescription, trade generics, and consumer health over the last year period. Adjusted for Covid, the business rose 16% YoY.

The US business reported highest ever revenue of $204 million, rising 27% year-on-year, driven by expansion in market share of key launches.

“I am pleased to share that we continue to make significant progress across our focused markets. In FY23, we recorded the highest-ever revenue with EBITDA crossing Rs 5,000 crore for the first time. We are excited for the upcoming year, where we look forward to deepening our leadership in branded markets and expanding our differentiated pipeline in the US," said Umang Vohra MD and Global CEO, Cipla.

In the SAGA (South Africa, Sub-Saharan Africa and Global Access) region, the company faced headwinds earlier this year due to supply challenges, however, business has picked up in private market with QoQ growth of 5% in ZAR terms.

The dollar revenue in the international markets including emerging markets and Europe was impacted by currency volatility. However, there was strong momentum across focused DTMs, resulting in a double-digit growth in secondary terms.

R&D investments for the quarter stood at Rs 371 crore or 6.5 % of sales, up 15% YoY driven by continued progress of clinical trials on key pipeline assets. On Friday, Cipla shares were trading 0.94% lower at Rs 934.70 apiece on NSE.