Cipla Q1FY24 result: Net profit at Rs 895.02 crore; revenue up by 12.2%

The company's One-India business grew by 12 per cent YoY. Their US business reported highest-ever revenue of $222 million and 43 per cent YoY growth

The standalone net profit of Cipla for the first quarter of the current financial year (Q1YFY24) stood at Rs 895.02 crore, compared to loss of Rs 759.16 crore for the corresponding quarter of the previous year, the company said in a BSE filing.

Sequentially, the net profit was up 151.7 per cent. In Q4FY23, the net profit of the company was Rs 355.49 crore.

The revenue from operations for Q1FY24 came in at Rs 4,318.19 crore, compared to Rs 3,846.14 crore year-on-year (YoY). This is a rise of 12.2 per cent.

On a quarter-on-quarter (QoQ) basis, the revenue for operations was Rs 3,893.74 crore in Q4FY23.

 

The company's One-India business grew by 12 per cent YoY. Its US business reported highest-ever revenue of $222 million and 43 per cent YoY growth. The company's South Africa business grew at 13 per cent YoY.

Umang Vohra, managing director and Global CEO, Cipla, said that the company's One-India business continued the double-digit trajectory growing at 12 per cent during the quarter, led by branded prescription with sustained growth across chronic therapies.

"We are excited to continue working towards establishing a strong foundation for growth in upcoming quarters, where we look forward to continuing the leadership in chronic therapies in branded prescription business in India, further expanding our differentiated pipeline in the US and targeting to be the biggest prescription business in South Africa,” Vohra said.