Cipla Net Profit Rises by 79% to Rs. 932 Crore in Q4

Cipla, a renowned global pharmaceutical company, reported a high consolidated net profit growth of 79% to Rs. 932 crore in the fourth quarter ended March 2024, compared to Rs. 522 crore in the same time last year. Its earnings before tax and unusual items increased by 36% to Rs. 1,259 crore from Rs. 928 crore. Cipla's consolidated revenues rose by 7% to Rs. 6,163 crore from Rs. 5,779 crore. EPS with a face value of Rs. 2 per share increased to Rs. 11.63 from Rs. 6.51 in the previous period.  

Its pharmaceutical sales rose 8.3% to Rs. 5,996 crore from Rs. 5,536 crore, while new ventures fell 8.6% to Rs. 213 crore from Rs. 233 crore. Cipla's domestic sales increased by 7% to Rs. 2,417 crore, while those in North America increased by 11.8% to Rs. 1,875 crore from Rs. 1,677 crore.

Cipla spent 7.2% of its revenue on R&D in the fourth quarter, amounting to Rs. 444 crore. In respiratory, it has filed five assets, including gSymbicort and gQvar, which are scheduled to be launched within three years. In addition, it plans to submit two respiratory assets during the next 12-15 months. 

It has registered 12 assets in peptides and complicated generics, with a 2-4 year launch horizon. As previously said, it aimed to commercialize four peptide assets in FY25. Furthermore, the pharmaceutical company is working on multiple 505(b)(2) prospects as well as sophisticated ANDA items that are now in development and will be important to our future portfolio.