Q4 Results: Cipla's Net Profit Rises By 45% YoY, Consolidated Revenue At 5,739 Cr

Cipla Limited, the Indian pharmaceutical major headquartered in Mumbai has reported its earnings for the quarter that ended on 31st March 2023, the Indian pharma giant has registered a rise of 8.3 per cent in its consolidated revenue to be recorded at Rs 5,739 crores in the Quarter Four of Financial Year 2023(Q4FY23) up from Rs 5,260 crores in the corresponding quarter last year. 

Whereas the pharma company recorded a 1.2 per cent dip in its revenues compared with the previous quarter (Q3FY23) where the company posted revenue of Rs 5,810 crores.

The pharmaceutical company's consolidated revenue for the financial year 2023 stood at Rs 22,753 crores, a rise of 4.3 per cent when compared with the revenues of last year which stood at Rs 21,763 crores.

Cipla's net profit jumped by 45 per cent year on year (YoY) in Q4FY23, the company recorded a net profit of Rs 526 crores in the March quarter. The company saw an increase of Rs 164 crores from the earnings of the same quarter last year which stood at Rs 362 crores.

The company's net profit for FY23 came in at Rs 2,832 crores against Rs 2,546 crores in FY22, a jump of 11.2 per cent year on year.

The pharma major's EBITDA saw a 54 per cent rise YoY in Q4FY23 to be recorded at Rs 1,174 crore against Rs 763 crore reported in the corresponding quarter last year. Cipla's EBITDA for FY23 came in at Rs 5,027 crores, a growth of 10 per cent YoY compared with Rs 4,578 crores recorded in FY22. 

The company's EBITDA margins for the March quarter came in at 20.5 per cent improving from 14.5 per cent recorded in the same quarter of the previous year. The company's margins for FY23 stood at 22.1 per cent against 21 per cent in FY22. 

“I am pleased to share that we continue to make significant progress across our focused markets. In FY23, we recorded the highest-ever revenue with EBITDA crossing Rs 5,000 Cr for the first time. Our One-India business continued the double-digit trajectory growing at 13 per cent ex-Covid during the year led by branded prescription and sustained growth across our acute and chronic therapies," stated Umang Vohra, MD and Global CEO, Cipla. 

Vohra added, "Our continued focus on the differentiated portfolio has strengthened our US business which posted the highest-ever quarterly revenue at USD 204 million and USD 733 million for FY23. Adjusting for covid, our core operating profitability continues to be strong at 23 per cent expanding by 100 bps over last year. We are excited for the upcoming year, where we look forward to deepening our leadership in branded markets and expanding our differentiated pipeline in the US."

The company's stock closed 0.93 per cent lower on Friday at Rs 934.90 on BSE.