Mumbai headquartered Cipla posted a 20 per cent growth in profit before tax for the first quarter of the current fiscal to Rs 799 crore, on a nine per cent year-on-year (YoY) revenue of Rs 4,346 crore.
The company's domestic business did well, registering a 16 per cent YoY growth during the quarter when Cipla launched the licensed version of Gilead's remdesivir. It also markets another key drug used in Covid treatment, Roche's tocilizumab. In the chronic therapies, cardiac segment did well for Cipla during the quarter, growing by 10 per cent. The trade generics business clocked a 46 per cent YoY jump.
On the operational front, the Ebitda came in at Rs 1049 crore with a resulting Ebitda margin of 24 per cent with focus on cost optimisation across businesses. The profit after tax was Rs 578 crore, up 21 per cent.
Cipla's international business did well too. The US business grew by 14 per cent YoY led by the ramp up in sales of inhaler drug albuterol. The South Africa business registered a 17 per cent jump, while the European business grew by nine per cent.
Commenting on the results, MD and Global CEO of Cipla Umang Vohra said, "During the quarter, our businesses actively re-imagined their operating models to drive strong growth across markets of India, South Africa, US and focused execution on cost optimization helped drive the quarter EBITDA to 24 per cent."
