Cipla Q1 PAT slides 4% YoY to Rs 686 cr

29 Jul 2022 , 04:59 PM

Profit before tax skid 2.1% to Rs 974.56 crore in Q1 FY23 from Rs 995.52 posted in Q1 FY22. On a consolidated basis, EBITDA fell 15% year on year to Rs 1,143 crore in Q1 FY23. EBITDA margin stood at 21.3% in Q1 FY23, lower than 24.5% in Q1 FY22. During the quarter, Ciplas One India business sustained momentum in core portfolio across branded prescription, trade generics and consumer health; 9% YoY growth adjusted for covid portfolio. The SAGA region reported muted growth in South Africa (SA) private primary sales with recovery expected in Q2; strong secondary demand with SA private outperforming market. US core formulation revenue stood at $155 million, a 10% YoY growth. It reported steady momentum in core formulation business led by contribution from respiratory and peptide assets. Ciplas R&D investments stood at Rs 274 crore or 5.1 % of sales; higher 4% YoY driven by ongoing clinical trials on a respiratory asset and other developmental efforts. Umang Vohra, MD and Global CEO of Cipla said, ?I am pleased to see the sustained momentum across our key segments with strong secondary growth across geographies. The core portfolio momentum in One-India business continues to be robust driven by strong demand levers. Our US run rate continues to witness consistent traction in respiratory, complex generics and peptide portfolio. We are closely tracking upcoming complex launches in H2FY23. Our reported operating profitability of 21.3% is well within our full year guidance of 21-22% range and has grown double digit vs last year base EBITDA despite multiple cost headwinds. Our cost rigor and calibrated pricing actions have helped offset inflationary cost elements, insulate margins while maintaining high serviceability.? As on 30 June 2022, Ciplas total debt (including lease liabilities) stood at Rs 1,084 crore while its cash and cash equivalents stood at Rs 5,211 crore. Cipla is a global pharmaceutical company focused on agile and sustainable growth, complex generics, and deepening portfolio in our home markets of India, South Africa, North America, and key regulated and emerging markets. Shares of Cipla closed 1.08% higher at Rs 978.15 on the BSE. Powered by Capital Market – Live News