Cipla Q2 FY22 profit after tax increases 7% to Rs 665cr

Cipla Limited has reported a profit after tax (PAT) of INR 711 crores for the second quarter of the fiscal year 2022 (Q2 FY22), a 7% increase compared to INR 665 crores for the same quarter of the previous fiscal year.

The income from operations of the Indian pharma company for Q2 FY22 was INR 5,520 crores, a 10% increase compared to INR 5,038 crores for Q2 FY21.

Cipla Limited said that its India business grew by 16% year-over-year (YoY) to INR 2,416 crores.

In South Africa, Sub-Saharan Africa and global access, the company’s business grew 8% YoY to INR 994 crores.

On the other hand, North America delivered a 2% growth to INR 1,055 crores, while international markets had a 14% increase in sales at INR 821 crores.

The sales performance of Cipla Limited’s API business declined 9% YoY to INR 172 crores in the reported quarter.

Umang Vohra — MD and Global CEO of Cipla Limited, commenting on Cipla Q2 FY22 results, said: “I am pleased to see the strong momentum in core therapies across our branded markets and sustained cost control leading to 10% revenue growth and 22.2% EBITDA margin for the quarter, offsetting price erosion and normalising covid contribution.

“In India, we continue to drive strong performance led by sustained volume traction despite a high FY21 base. Our collaboration with Eli Lily for their diabetes products helps us further strengthen our endeavour of creating access to innovative medicines in-line with the One-India strategy.

“The US business also witnessed healthy run rate driven by core portfolio and desired traction in respiratory franchise across Albuterol and Arformoterol. International markets rebounded in-line with expectations despite continuing geopolitical challenges.”