Pharmaceuticals firm Cipla Ltd on Friday reported a 44.9 per cent rise in consolidated profit after tax at Rs 1,155.37 crore in the second quarter ended September 2023.
The company had posted a consolidated profit after tax of Rs 797.41 crore in the July-September quarter last fiscal, Cipla Ltd said in a regulatory filing.
Consolidated total revenue from the sale of products in the quarter under review stood at Rs 6,589.22 crore, up 14.41 per cent as against Rs 5,759.28 crore in the year-ago period.
Its total expenses in the September quarter were 8.43 per cent higher at Rs 5,260.24 crore as compared to Rs 4,851.13 crore in the corresponding period last fiscal, the company said.
The total income of Cipla in the September quarter was at Rs 6,854.47 crore, up 15.17 per cent.
During the quarter, its revenue from pharmaceuticals was at Rs 6,452.54 crore, and from new ventures at Rs 263.77 crore.
Cipla MD and Global CEO Umang Vohra said the results reflect the "strength of our core business across key markets of India, North America and South Africa".
"We reported our highest-ever quarterly revenue with EBITDA margins scaling up to 26 per cent. One-India business grew at a healthy 10 per cent YoY with continued market beating performance in the branded prescription and trade generics business," he said.
Cipla said its India business sales were up 10 per cent at Rs 2,817 crore in the first quarter with continued momentum across branded prescription, trade generics and consumer health.
This was Rs 2,563 crore in the corresponding quarter, a year ago.
North America business posted a 31.8 per cent jump in sales at Rs 1,887 crore as compared to Rs 1,432 crore in the year-ago period.
Revenue from the South Africa market was at Rs 620 crore, up 7 per cent, as compared to Rs 598 crore in the year-ago period.
"In South Africa, the private market business grew in double digits driven by strong execution across prescription and OTC. The North America business scaled up to USD 229 mn, growing 28 per cent YoY, driven by strong traction across core products with share expansion in differentiated assets," said Vohra.
However, international markets that include emerging markets and Europe posted sales down 3.8 per cent at Rs 734 crore as against Rs 763 crore in the same period a year ago, it said.
Its revenue from API (Active Pharmaceutical Ingredient) segment was also down 3.5 per cent at Rs 147 crore as against Rs 153 crore a year ago.
Over the outlook, he said: "Our pipeline is progressing really well with key milestones achieved in respiratory and peptide assets. We will continue our focus on driving profitable growth across businesses."
Meanwhile, in a separate filing, Cipla informed, "A routine current Good Manufacturing Practices (cGMP) inspection was conducted by the United States Food and Drug Administration (USFDA) at the manufacturing facility unit 1 and 2 of InvaGen Pharmaceuticals Inc, located in Hauppauge, Long Island, New York, USA from 16th October 2023 to 25th October 2023."
InvaGen Pharmaceuticals Inc is a wholly-owned subsidiary of the Company.
Shares of Cipla Ltd closed at Rs 1,176.50 on BSE on Friday, up 2.29 per cent from the previous close.