Cipla Q3 net profit up 5 pc to Rs 339 cr

Drug major Cipla on Wednesday reported a 5.31 per cent rise in its consolidated net profit to Rs 339.38 crore for the December 2019 quarter.

The company had posted a net profit of Rs 322.24 crore for the corresponding period of the previous financial year, Cipla said in a filing to the BSE.

Its consolidated total revenue from operations also rose to Rs 4,371 crore in the October-December 2019 period, compared with Rs 4,007.54 crore in the corresponding period a year ago.

"We have had yet another good quarter: India business continued its momentum with strong double-digit growth in the prescription business; growth coming back in the trade generics business, South Africa's private market franchise continued to outperform the market significantly and the US generics business retained a healthy share in key assets despite multiple competitive entries," Cipla MD and Global CEO Umang Vohra said.

Under Cipla's One India vision, the company has integrated its formidable prescription and trade generics franchise along with progressive wellness portfolio of Cipla Health, he added.

"We have already taken initial actions on portfolio and our leadership structure to leverage the synergies which in the coming quarters will evolve significantly," Vohra said.

During the quarter, focus on cash generation drives continued improvement in balance sheet health, Cipla said.

Shares of Cipla Ltd were trading at Rs 454.10 per scrip on BSE, up 1.23 per cent from its previous close.