On a consolidated basis, Cipla's net profit soared 25.41% to Rs 709.92 crore on a 26.64% jump in total revenue from operations to Rs 5,504.35 crore in Q1 June 2021 (Q1 FY22) over Q1 June 2020 (Q1 FY21).
Consolidated profit before tax surged 24.56% to Rs 995.52 crore in Q1 FY22 as against Rs 799.21 crore in Q1 FY21. EBITDA grew 28% to Rs 1,346 crore in Q1 FY22 as against Rs 1,049 crore in Q1 FY21. EBITDA margin improved to 24.5% during the quarter as compared to 24.1% during Q1 June 2020. Profit margin stood at 13% in Q1 June 2021 over 13.3% in Q1 June 2020. The Q1 earnings were announced post market hours yesterday, 5 August 2021.
Overall business grew by 68% Y-o-Y (year-on-year) with strong volume traction in core therapies and COVID-19 portfolio contribution. In South Africa, Sub-Saharan Africa and Cipla Global Access (SAGA) region, with continued market beating growth in South Africa private business, SAGA grew 13% Y-o-Y in USD terms. In US business, the pharmaceutical major reported $141 million revenue and 5% Y-o-Y growth led by continued expansion in market share of Albuterol.
Research & Development (R&D) investments stood at Rs 264 crore with an absolute trajectory of R&D spends on track. Total debt jumped 9.9% to Rs 1,931 crore in June 2021 as against Rs 1,756 crore in March 2021. Cash and cash equivalents galloped 33.16% to Rs 4,895 crore in June 2021 as compared to Rs 3,676 crore in March 2021. The continued healthy net cash positive position was led by operating profitability and prudent working capital management.
Umang Vohra, the managing director (MD) and chief executive officer (CEO) of Cipla, has said that: "The company saw robust demand led traction in core therapies across branded markets and continued cost control leading to 27% revenue growth and 24.5% EBITDA margin for the quarter. Our investments in creating a differentiated API portfolio have helped drive growth in the quarter."
Cipla is a global pharmaceutical company focused on agile and sustainable growth, complex generics, and deepening portfolio in our home markets of India, South Africa, North America, and key regulated and emerging markets.
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Shares of Cipla declined 2.48% to Rs 921.75 on BSE. The stock traded in the range of Rs 916.40 to Rs 943 so far.
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