Cipla Q3 Results FY2023, PAT at Rs.801 crores

On 25th January 2023, Cipla announced its results for the third quarter of FY2023.

Key Highlights:

- Revenues from operations at Rs. 5810 crores
- EBITDA stood at Rs. 1408 crores
- The company reported PAT at Rs. 801 crores

Business Highlights:

- One-India business segment reported a robust double-digit traction in the core portfolio across therapies and business segments; 11% YoY ex-covid growth 
- US business reported highest ever quarterly revenue of $195 Million and 30% YoY growth; Strong traction in the differentiated portfolio including market share expansion in key respiratory and peptide injectable products 
- South Africa, Sub-Saharan Africa, And Global Access (SAGA) business’ supply challenges being addressed 
- International Markets reported revenue impacted by currency volatility; 6% YoY ex-covid growth in INR terms
- API continued growth in emerging markets offsetting normalization in inventory levels for European customers
- R&D investments stand at Rs. 363 crores or 6.2 % of sales; Higher 39% YoY driven by ongoing clinical trials on a respiratory asset and other developmental efforts continuing including biosimilars

Commenting on the results, Umang Vohra, MD and Global CEO, Cipla Ltd, said: “Our Q3FY23 performance reflects sustained momentum in core One-India and US businesses driving our overall revenue growth of 6% reported and 11% on an excovid basis. Our One India franchise delivered strong performance across therapies and segments with double-digit market-beating growth in prescription on a covid adjusted base. We achieved the highest-ever quarterly revenue for the North American region of $195 Mn driven by the contribution of differentiated products and market share expansion in flagship respiratory and peptide franchises. Our reported operating profitability of 24.2% reflects our focused efforts on navigating external headwinds and continued higher R&D spending stemming from ongoing respiratory trials and initiation of biosimilar programs.”