Cipla Q2 PAT rises 11% YoY to Rs 789 cr

4 Nov 2022 , 03:45 PM

Consolidated profit before tax stood at Rs 1,100.36 crore in quarter ended 30 September 2022 from Rs 995.81 crore posted in the same period last year. EBITDA rose 6.2% year on year to Rs 1,302 crore in Q2 FY23. EBITDA margin stood at 22.3% in Q2 FY23, as compared with 22.2% reported in Q2 FY22. During the quarter, Ciplas One India business reported robust traction in core portfolio across therapies and business segments; 15% YoY ex-covid growth. In SAGA region, South Africa (SA) private market recovery on track; 28% sequential growth in ZAR terms; strong secondary demand with SA private outperforming market. SAGA includes South Africa, Sub-Saharan and Cipla Global Access business. US core formulation revenue stood at $179 million, 25% YoY growth; successful launch of Lenalidomide and continued market share expansion in Lanreotide 505b2. Ciplas R&D investments stood at Rs 335 crore or 5.8 % of sales; higher 22% YoY driven by on-going clinical trials on a respiratory asset and other developmental efforts. Umang Vohra, MD and Global CEO of Cipla, said, ?Our Q2 FY23 performance reflects strong momentum in One-India business and solid execution on differentiated portfolio in the US including the launch of Lenalidomide, driving our overall revenue to a multi-quarter high and expansion in our reported operating profitability, despite external headwinds. He further added, Our reported operating profitability of 22.3% and is tracking well within our full year guidance of 21-22% range. Our proactive logistics management, cost rigor and calibrated pricing actions have helped offset the adverse impact of inflationary cost elements on profits. We are closely working with USFDA on Goa observations, de-risking key assets and improving compliances holistically across manufacturing locations.? As on 30 September 2022, Ciplas total debt (including lease liabilities) stood at Rs 1,068 crore while its cash and cash equivalents stood at Rs 5,060 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 were down 0.95% to Rs 1148.90 on the BSE. Powered by Capital Market – Live News