 "Cipla's net profit zooms 113% in December quarter; revenue up 18%")
Mumbai-headquartered Cipla on Friday reported an 18 per cent increase in revenue from operations while its profit after tax more than doubled in the December quarter, on the back of growth in India and emerging markets.
The total revenue from operations came in at Rs 5,169 crore and the net profit stood at Rs 748 crore, up 113 per cent. Its Ebitda stood at Rs 1,281 crore, up 69 per cent with a resulting Ebitda margin of 24.8 per cent. Kedar Upadhye, global CFO, Cipla, attributed the growth in profit to performance in across geographies, focussed cost control measures. “There has also been a benefit from the settlement that the company signed for Lenalidomide litigation ins US.”
Umang Vohra, MD and global CEO of Cipla, said the company maintained market beating performance across core therapies as contribution from the Covid-19 portfolio normalised in line with the reduction in infection cases.
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