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The drug major's consolidated net profit grew 7% year on year to Rs 711 crore on a 10% rise in total revenue from operations to Rs 5,520 crore in Q2 FY22 over Q2 FY21.
The drug maker's profit before tax increased 7.5% to Rs 995.81 crore in Q2 FY22 as compared to Rs 925.65 reported in Q2 FY21. EBITDA rose 4% year on year to Rs 1,226 crore in Q2 FY22. EBITDA margin for Q2 FY22 stood at 22.2% as compared to 23.4% posted in Q2 FY21. R&D investments stood at Rs 274 crore in Q2 FY22 with priority projects spends on track.Cipla's overall business grew by 16% year on year on high FY21 base led by sustained volume traction across core therapies and covid portfolio contribution normalising in-line with expectations. Trade generics business reported healthy order flow across regions benefiting from strong demand regions and continued momentum in flagship brands. Consumer health business witnessed robust traction in anchor brands & transitioned brands.
South Africa, Sub-Saharan Africa and Cipla Global Access (SAGA) business grew 8% year on year in USD term. South Africa private business continued market beating growth during the quarter. The company also saw market beating growth in CNS, respiratory and anti-infectives therapies.
US business reported multi-quarter high revenue of $142 million. Cipla said steady momentum in core products is offsetting price erosion in rest of the portfolio. In Albuterol, Cipla's TRx market share stood at 18.2% of the generic market and 14.6% for the overall market as per IQVIA week ending 8 October 2021.
The company's cash and cash equivalents were at Rs 3,557 crore as on 30 September 2021 as against Rs 4,895 crore as on 30 June 2021. Cipla said it continued healthy net cash positive position led by growth in operating profitability and prudent working capital management. The company also prepaid $137.5 million outstanding InvaGen acquisition debt during the quarter.
Umang Vohra, MD and Global CEO of Cipla said, I am pleased to see the strong momentum in core therapies across our branded markets and sustained cost control leading to 10% revenue growth and 22.2% EBITDA margin for the quarter, offsetting price erosion and normalising covid contribution. In India, we continue to drive strong performance led by sustained volume traction despite a high FY21 base. Our collaboration with Eli Lily for their diabetes products helps us further strengthen our endeavour of creating access to innovative medicines in-line with the One-India strategy. The US business also witnessed healthy run rate driven by core portfolio and desired traction in respiratory franchise across Albuterol and Arformoterol. International markets rebounded in-line with expectations despite continuing geopolitical challenges.
Shares of Cipla ended 0.6% higher at Rs 907.30 on Tuesday.
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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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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