Cipla Limited has announced its financial results for the third quarter ending December 31, 2024, showcasing a robust performance driven by strong domestic demand.
Key Financial Highlights:
- Net Profit: The company reported a consolidated net profit of ₹1,571 crore, marking a 48% year-on-year increase from ₹1,061 crore in the same quarter last year.
- Revenue: Total revenue from operations rose by 8% to ₹7,073 crore, up from ₹6,545 crore in the corresponding period of the previous year.
- EBITDA: Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) increased by 16% year-on-year to ₹1,989 crore.
Segment-wise Performance:
- India: Revenue from the domestic market grew by 10% to ₹3,146 crore, driven by strong demand for respiratory and urology-related medications.
- North America: Sales in North America experienced a slight decline of 1%, totaling ₹1,500 crore. This was primarily due to supply chain challenges affecting the tumor drug Lanreotide.
Future Outlook:
Cipla anticipates launching its breast cancer drug, Abraxane, by the second half of the next fiscal year, earlier than the initial FY25 target. Additionally, the company is preparing to file data for its respiratory drug, Advair, from its U.S. facility, with the launch timeline contingent upon regulatory approvals.
Management Commentary:
Global CEO Umang Vohra addressed concerns regarding the U.S. freezing aid for certain drug programs, stating that the anti-AIDS PEPFAR program constitutes a minimal part of Cipla’s business and is not expected to significantly impact the company’s financials.
Overall, Cipla’s strong performance in the domestic market has effectively offset minor declines in North American sales, positioning the company for continued growth in the upcoming quarters.
Cipla’s Q3 Profit Surges 49% Amid Strong Domestic Demand
