Cipla Promoters Set to Offload ₹2,000 Crore Stake via Block Deals

1 Dec 2024 , 06:56 PM

Cipla Ltd’s promoters are planning to sell 1.72% of the company’s equity, which equals 1.39 crore shares, through block deals. The shares are being offered at ₹1,442 per share.

In its recent quarterly results, Cipla reported a net profit of ₹1,303 crore, marking a 15% increase compared to the same period last year. Cipla’s revenue from operations for the quarter stood at ₹7,051 crore, reflecting a 5% year-on-year growth from ₹6,678 crore in the same quarter of the previous fiscal year.

The company’s EBITDA rose to ₹1,885.5 crore, an 8.7% increase compared to ₹1,733.8 crore in the corresponding period last year. Cipla’s North America sales reached $237 million, showing a 4% growth on a year-on-year basis, supported by strong demand in its differentiated portfolio.

The India business also grew by 5% year-on-year, driven by solid performance in chronic therapies. Cipla’s consumer health segment recorded an impressive 21% growth year-on-year, reflecting robust demand for its products. These developments highlight Cipla’s consistent financial growth and strong market presence across multiple geographies and product segments.