Cipla Q3 profit fell 2.6% to Rs 729 Crore

Cipla Q3 profit fell 2.6% to Rs 729 Crore

Cipla’s net profit in the third quarter fell

New Delhi:

Major pharmaceutical group Cipla on Tuesday reported a 2.6% drop in consolidated after-tax profit to Rs 729 crore for the third quarter ended December 31, 2021.

The Mumbai-based company announced consolidated after-tax profit (PAT) of Rs 748 crore for the October-December fiscal quarter of 2020-21.

However, total operating revenue rose 6% to Rs 5,479 crore in the third quarter from Rs 5,169 crore in the same financial period last year, Cipla said in a regulatory filing.

“I am pleased to see strong launch and commercial momentum across our core markets during the quarter. The performance of our portfolio in branded markets such as India and South Africa and the strong respiratory traction that drove our joint US franchise to a four-quarter high were key drivers,” noted Cipla MD and Global CEO Umang Vohra.

Unlocking the company’s first peptide asset, lanreotide injection, is an important step in strengthening the complex generics machine that elevates the drugmaker’s footprint in the US, he added.

“Our EBITDA margin for the quarter came in at 22.7%, and with year-to-date traction, we’re poised to end the year in line with our guidance of 22%. We continue continue working to improve patient access to therapies including covid products and ensure adequate supply across all of our markets,” Vohra stated.

The company said its domestic sales came in at Rs 2,518 crore in the third quarter, up 13% from Rs 2,231 crore in the same previous financial period.

Source link


News of max: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button