Cipla reports 32 percent increase in net profit to Rs 1056 crore in Q3

Cipla MD and Global CEO Umang Vohra said the company's topline growth for the quarter was 14 per cent year-on-year.

Published On 2024-01-23 06:00 GMT | Update On 2024-03-26 09:48 GMT

Bengaluru: Drug major Cipla has reported a 32 percent increase in consolidated net profit at Rs 1,056 crore for the December quarter, on the back of robust sales across geographies.The Mumbai-based company had posted a consolidated net profit of Rs 801 crore in the year-ago period, Cipla Ltd said in a statement. Total revenue from operations in the third quarter of the current fiscal rose to...

Bengaluru: Drug major Cipla has reported a 32 percent increase in consolidated net profit at Rs 1,056 crore for the December quarter, on the back of robust sales across geographies.

The Mumbai-based company had posted a consolidated net profit of Rs 801 crore in the year-ago period, Cipla Ltd said in a statement.

Total revenue from operations in the third quarter of the current fiscal rose to Rs 6,604 crore as compared with Rs 5,810 crore in the year-ago period.

Cipla MD and Global CEO Umang Vohra said the company's topline growth for the quarter was 14 per cent year-on-year.

The company's One India business grew at a healthy 12 per cent year-on-year backed by a strong performance across branded prescription, trade generics and consumer health, he noted.

"In North America, we continue to scale newer peaks by posting highest-ever quarterly revenue yet again at USD 230 million, supported by positive traction in key assets and base business," Vohra said.

The company's South Africa business further extended its momentum from last quarter by growing at 15 per cent in local currency terms driven by strong execution across various segments like prescription and OTC, he added.

"Our focus continues on expansion in chronic therapies, growing big brands, global wellness as well as developing our R&D pipeline in respiratory and peptides. We will continue to focus on driving profitable growth across businesses," Vohra added.

Read also: Cipla, Kemwell Biopharma, Manipal forge cell therapy alliance in US

Cipla Limited is an Indian multinational pharmaceutical and biotechnology company headquartered in Mumbai, India. Khwaja Abdul Hamied founded the Company in 1935 in Mumbai. Cipla has extended its presence to 80+ countries providing over 1,500 products across various therapeutic categories in 50+ dosage forms. The Company is also deepening its presence in the key markets of India, South Africa, the U.S. among other economies of the emerging world.

Original news source: https://www.ptinews.com/story/business/cipla-reports-32-pc-rise-in-net-profit-to-rs-1-056-cr-in-q3/1234439

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Ruchika Sharma

Ruchika Sharma joined Medical Dialogue as an Desk Editor for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751

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Cipla reports 32 percent increase in net profit to Rs 1056 crore in Q3

Cipla MD and Global CEO Umang Vohra said the company's topline growth for the quarter was 14 per cent year-on-year.

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