Cipla Q1 Results: Profit Rises 18%, Meets Estimates

• Revenue up 6% to Rs 6,694 crore versus Rs 6,329 crore (Bloomberg estimate: Rs 6,795.5 crore).

• Ebitda up 15% to Rs 1,1716 crore versus Rs 1,494 crore (Estimate: Rs 1,671.3 crore).

• Margin expands to 25.6% versus 24% (Estimate: 24.6%).

• Net profit up 18% to Rs 1,175 crore vs Rs 998 crore (Estimate: Rs 1,120.4 crore).

One-India

The India branded prescription business grew at a healthy rate of 10% year-on-year. Overall, One India growth was offset by weakness in trade generics business owing to distribution model change.

North America

All-time high revenue at $250 million, up by 13% year-on-year, supported by traction in differentiated portfolio.

South Africa

Momentum continues with revenue growth at 19% in local currency terms. Prescription business ranked one in the market.

Other Highlights

• R&D investments stand at Rs 353 crore or 5.3% of sales, higher by 1% YoY, driven by product filings and developmental efforts.

• Net cash position of Rs 8,449 crore. Debt primarily includes lease liabilities and working capital requirements.

• Patalganga and Kurkumbh facilities were classified as ‘Voluntary Action Indicated’ by US FDA.