Cipla Q3 PAT dips 2.6% at Rs 729 crore

Drug major Cipla on Tuesday reported a 2.6 per cent decline in its consolidated profit after tax to Rs 729 crore for the third quarter ended on December 31, 2021.

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

Total revenue from operations, however, rose by 6 per cent to Rs 5,479 crore in the third quarter as compared with Rs 5,169 crore in the same period of last fiscal, Cipla said in a regulatory filing.

"I am pleased to see the strong launch and commercial momentum across our core markets during the quarter. Our portfolio execution in branded markets of India and South Africa and strong respiratory traction driving our US generic franchise to a multi-quarter high quarter were key drivers," Cipla MD and Global CEO Umang Vohra noted.

The unlocking of the company's first peptide asset, lanreotide injection is an important step in strengthening complex generics engine, inching up the drug maker's US footprint, he added.

"Our EBITDA margins for the quarter came in at 22.7 per cent and given the year to date traction, we are well placed to close the year in-line with our guidance of 22 per cent. We continue our efforts to improve patient access for therapies including covid products and ensuring adequate supply across all our markets," Vohra stated.

The company said its domestic revenues stood at Rs 2,518 crore in the third quarter, up 13 per cent from Rs 2,231 crore in the same period of previous fiscal.

Similarly, the company's revenue in North America grew by 9 per cent to Rs 1,124 crore in the period under review as compared with the same period of 2020-21 fiscal.

Revenue from API business however dropped by 26 per cent to Rs 150 crore during the third quarter as compared with Rs 201 crore in the same period of previous financial year.