ReutersCipla on Wednesday reported a 10% year-on-year (YoY) rise in consolidated net profit for the quarter ended December 2022 to Rs 801 crore, but this was lower than the ET Now poll estimate of Rs 880 crore.
Consolidated revenue from operations grew a meagre 6% on year to Rs 5,810 crore. It also missed analysts' estimate of Rs 6,100 crore.
Operating profit, calculated as earnings before interest, taxes, depreciation and amortization (EBITDA) grew 14.3% on year to Rs 1,407.56 crore, while the margin expanded by 176 basis points to 24.23%.
A sharp fall in input costs contributed to the improvement in operational performance. Raw material costs dropped by 15% on year to Rs 1,299.04 crore.
Higher finance cost and a rise in the tax outgo weighed on the bottomline. The net tax outgo for the quarter was Rs 410 crore compared to Rs 295.2 crore a year ago.
Cipla’s standalone net profit for the quarter fell 7.2% on year to Rs 678.52 crore, while revenue grew a marginal 0.4% to Rs 3,899.45 crore.
The dismal numbers from the drugmaker weighed on the stock, which extended the day’s losses and hit an over 4-month low of Rs 1,021. The shares were trading 3.2% lower on the National Stock Exchange at Rs 1,028.45.
Consolidated revenue from operations grew a meagre 6% on year to Rs 5,810 crore. It also missed analysts' estimate of Rs 6,100 crore.
Operating profit, calculated as earnings before interest, taxes, depreciation and amortization (EBITDA) grew 14.3% on year to Rs 1,407.56 crore, while the margin expanded by 176 basis points to 24.23%.
A sharp fall in input costs contributed to the improvement in operational performance. Raw material costs dropped by 15% on year to Rs 1,299.04 crore.
Higher finance cost and a rise in the tax outgo weighed on the bottomline. The net tax outgo for the quarter was Rs 410 crore compared to Rs 295.2 crore a year ago.
Cipla’s standalone net profit for the quarter fell 7.2% on year to Rs 678.52 crore, while revenue grew a marginal 0.4% to Rs 3,899.45 crore.
The dismal numbers from the drugmaker weighed on the stock, which extended the day’s losses and hit an over 4-month low of Rs 1,021. The shares were trading 3.2% lower on the National Stock Exchange at Rs 1,028.45.
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