Cipla, a Rs.14,200 crore pharma major from Mumbai, has posted strong growth of 19 per cent in consolidated net profit during the second quarter ended September 2017 to Rs.423 crore from Rs.354 crore in the corresponding period of last year. Its consolidated net sales increased by 9 per cent to Rs.4,082 crore from Rs.3,751 crore. With improvement in profits, its EPS improved to Rs.5.25 from Rs.4.41 in the last period.
The company’s domestic sales improved by 12 per cent to Rs.1,646 crore from Rs.1,469 crore in the similar quarter of last year. However, its sales in North America declined by 7 per cent to Rs.618 crore from Rs.664 crore. Its sales in SASA (including South Africa, Sub-Saharan and Cipla Global Access business) improved by 5 per cent to Rs.921 crore as against Rs.878 crore. The sales in emerging market went up by 11 per cent to Rs.454 crore from Rs.411 crore and that in Europe moved up by 14 per cent to Rs.151 crore from Rs.133 crore. Its API’s sales went up strongly by 84 per cent to Rs.213 crore from Rs.115 crore.
In line with decline in pharma scrip, Cipla scrip declined by Rs.47 and closed at Rs.608.35 on BSE yesterday. The scrip touched its yearly highest level at Rs.633 on November 7, 2017. It went down to Rs.479 in May 2017.
Umang Vohra, managing director and global CEO, said “A progressive recovery for Cipla, as we recorded strong growth momentum across key markets. Our growth is getting a major boost with initiation of much-awaited product approvals. The domestic business witnessed significant ramp-up in-line with strong off-take. Our efforts to improve cost efficiency continues to yield benefits.”
The company filed 5 ANDAs during second quarter and it filed 8 products during first half ended September 2017. It is planning to file 20-25 products in full year. Cipla has completed the phase I study for tizanidine patch.
For the first half ended September 2017, Cipla’s net sales increased by 2.7 per cent to Rs.7,420 crore from Rs.7,228 crore in the similar period of last year. Its net sales went up 20.6 per cent to Rs.860 crore from Rs.713 crore. It launched 8 new products in South Africa during first half with combined total market value of ZAR 490 million. Global access business grew by 7 per cent; increasingly focusing on partnering with other regional governments, to increase access to affordable care in various parts of Africa.
Cipla’s net profit moves, q2 to rs.423 crore
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