Cipla Q1 pre-tax profit jumps 20% to Rs 799 crore on strong revenues

Firm's domestic business did well, up 16% YoY during the quarter when Cipla launched licensed version of Gilead's remdesivir

Mumbai headquartered Cipla posted 20 per cent growth in profit before tax (PBT) for the first quarter of the current financial year to Rs 799 crore, on a 9 per cent year-on-year (YoY) growth in revenues to Rs 4,346 crore. The company’s domestic business did well, registering a 16 per cent YoY jump during the quarter when Cipla launched the licensed version of Gilead’s remdesivir. It also markets another key drug used in Covid treatment, Roche’s tocilizumab. In the chronic therapies, cardiac segment did well for Cipla during the quarter, growing by 10 per cent. The trade generics business clocked a 46 per cent YoY jump. 

On the operational front, the Ebitda came in at Rs 1,049 crore with a resulting Ebitda margin of 24 per cent with focus on cost optimisation across businesses. The profit after tax was Rs 578 crore, up 21 per cent. 

Cipla’s US business grew by 14 per cent YoY led by the ramp up in sales of inhaler drug albuterol. The South Africa business registered a 17 per cent jump, while the European business grew by 9 per cent.