Drug major Cipla on Friday said its consolidated net profit increased by 45 per cent to Rs 526 crore for the fourth quarter ended March 31, 2023, driven by robust sales across the domestic business and US market.
The Mumbai-based company had reported a net profit of Rs 362 crore for the January-March quarter of 2021-22 fiscal.
Total revenue from operations rose to Rs 5,739 crore for the fourth quarter as compared with Rs 5,260 crore in the year-ago period, Cipla said in a regulatory filing.
For the year ended March 31, 2023, the drug maker reported a consolidated net profit of Rs 2,802 crore as against Rs 2,517 crore in FY22. Total revenue rose to Rs 22,753 crore last fiscal as against Rs 21,763 crore in 2021-22 fiscal.
"In FY23, we recorded the highest ever revenue with EBITDA crossing Rs 5,000 crore for the first time. Our One-India business continued the double-digit trajectory growing at 13 per cent ex-Covid during the year led by branded prescription and sustained growth across our acute and chronic therapies," Cipla MD and Global CEO Umang Vohra noted.
The company's continued focus on differentiated portfolio has strengthened its US business which posted highest ever quarterly revenue at USD 204 million and USD 733 million for FY23, he added.
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"Adjusting for covid, our core operating profitability continues to be strong at 23 per cent expanding by 100 bps over last year. We are excited for the upcoming year, where we look forward to deepening our leadership in branded markets and expanding our differentiated pipeline in the US," Vohra noted.
The company said its board has recommended a final dividend of Rs 8.50 per share of Rs 2 each for the financial year ended March 31, 2023.
Shares of the company were trading 0.73 per cent down at Rs 936.80 apiece on the BSE.
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