The pharma major's consolidated net profit rose 9.93% to Rs 800.96 crore on 6.05% increase in total revenue from operations to Rs 5,810.09 crore in Q3 FY23 over Q3 FY22.
Consolidated profit before tax stood at Rs 1,218.06 crore in the quarter ended 31 December 2022, registering a growth of 15.55% from Rs 1,054.11 crore posted in the same period a year ago.
EBITDA jumped 13.2% year on year to Rs 1,408 crore in Q3 FY23. EBITDA margin stood at 24.2% in Q2 FY23, as compared with 22.7% reported in the corresponding quarter previous year.
During the quarter, Cipla's One India business reported robust double-digit traction in core portfolio across therapies and business segments; 11% YoY ex-covid growth.
In SAGA region, South Africa (SA) supply challenges being addressed; evolving business mix of private and tender. In secondary terms, strong demand continues with overall South Africa private business growing faster than the market. SAGA includes South Africa, Sub-Saharan and Cipla Global Access business.
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US business reported highest ever quarterly revenue of $195 million and 30% YoY growth; strong traction in the differentiated portfolio including market share expansion in key respiratory and peptide injectable products.
Cipla's R&D investments stood at Rs 363 crores or 6.2 % of sales; Higher 39% YoY driven by on-going clinical trials on a respiratory asset and other developmental efforts continuing including biosimilars.
Umang Vohra, MD and Global CEO of Cipla, said, Our Q3 FY23 performance reflects sustained momentum in core One-India and US businesses driving our overall revenue growth of 6% reported and 11% on a excovid basis. Our One India franchise delivered strong performance across therapies and segments with double digit market beating growth in prescription on a covid adjusted base.
He further added, We achieved the highest ever quarterly revenue for the North America region of $195 million driven by the contribution of differentiated products and market share expansion in flagship respiratory and peptide franchises. Our reported operating profitability of 24.2% reflects our focused efforts on navigating external headwinds and continued higher R&D spends stemming from ongoing respiratory trials and initiation of biosimilar programs.
As on 31 December 2022, Cipla's total debt (including lease liabilities) stood at Rs 1,042 crore while its cash and cash equivalents stood at Rs 6,232 crore.
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.
Shares of Cipla declined 2.59% to Rs 1,034 on the BSE.
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