Cipla net profit jumps 78.7% to Rs Rs 931.87 Cr in Q4

Pharma major Cipla Ltd on Friday reported a 78.7% jump in consolidated net profit to Rs 931.87 crore in the March quarter on the back of higher sales.

The company had posted a consolidated net profit of Rs 521.51 crore in the year-ago period, Cipla Ltd said in a regulatory filing.

Consolidated total revenue from operations during the quarter under review stood at Rs 6,163.24 crore as against Rs 5,739.3 crore in the corresponding period a year ago, it added.

Total expenses in the fourth quarter were higher at Rs 5,153.31 crore compared to Rs 4,946.14 crore in the same period previous fiscal, it added.

In the fourth quarter, Cipla said its "One-India market saw a growth of 7% year-on-year (YoY) backed by branded prescription and trade generics, while North America revenue was at $226 million, up 11% YoY supported by continued growth in key differentiated assets as well as base portfolio".

The board of directors of the company in its meeting on Friday recommended a final dividend of Rs 13 per equity share of face value of Rs 2 each for FY24, subject to approval of shareholders at the ensuing annual general meeting, it said.

For the fiscal year ended March 31, 2024, the consolidated net profit was at Rs 4,153.72 crore compared to Rs 2,832.89 crore in the previous fiscal, Cipla said.

For FY24, consolidated total revenue from operations was at Rs 25,774.09 crore compared to Rs 22,753.12 crore in FY23.

Commenting on the performance, Cipla Ltd MD and Global CEO Umang Vohra said in FY24, the company's revenues crossed the threshold of Rs 25,000 crore, whereas operating margins significantly improved to cross Rs 6,000 core for the first time.

"This was backed by One-India revenue breaching Rs 10,000 crore, North America revenue surpassing $900 million and South Africa reaching the top spot in the prescription market, with all three businesses growing in double digits over last year with improved profitability," he added.

On the road ahead, he said, "As we enter into FY25, our focus will be on our priorities of market-leading growth in our key markets, growing big brands bigger, investing in the future pipeline, as well as focusing on resolutions on the regulatory front."