Pharma major Cipla on Friday posted net profit for the fiscal fourth quarter at Rs 521.51 crore, up 40.7 per cent from Rs 370.70 crore in the same quarter last year. The pharmaceutical company missed CNBC TV 18 poll estimates of Rs 773.7 crore. It clocked revenue from operations at Rs 5739.30 crore, up 9.1 per cent from Rs 5260.33 crore in the fourth quarter of FY22. The Board also recommended the payment of a final dividend of Rs 8.50 per equity share of the face value of Rs 2 per equity share for the financial year ended March 31, 2023.
Cipla’s pharmaceutical business recorded revenue at Rs 5536.36 crore and its new venture business clocked Rs 233.83 crore revenue for the quarter. Cipla also increased its R&D investment to 6.5 per cent of the overall revenue in the fourth quarter.
Cipla’s region wise performance
Cipla’s One-India business showed growth across branded prescription, trade generics and consumer health over last year and recorded 16 per cent on-year growth adjusted for covid. In branded prescription business, it sustained momentum across therapies in core portfolio; trade generic business saw strong demand for flagship brands in key therapeutic categories and also saw 50+ new launches; revenue in consumer health category is already tracking at Rs 1,000 crore. “Overall South Africa, Sub-Saharan Africa and Global Access (SAGA) region faced headwinds earlier this year due to supply challenges, however, business has picked up in the private market with QoQ growth of 5 per cent in ZAR terms,” Cipla said. Cipla’s North America region registered the highest ever US core formulation revenue of $ 204 million, up 27 per cent on-year. While the dollar revenue was impacted by currency volatility, the emerging markets and Europe region saw continued strong momentum across focused DTMs and double-digit growth in secondary terms.
“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. Our continued focus on differentiated portfolio has strengthened our US business which posted highest ever quarterly revenue at $ 204 Mn and $ 733 Mn for FY23,” said Umang Vohra MD and Global CEO, Cipla Ltd.
Going forward, Umang Vohra added, “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.”
Cipla’s reach in India
With robust coverage across tier-II and beyond markets, Cipla prides in its 5,500 stockiest network and its presence across 15,000 pin codes serviced across India. Going forward, Cipla is increasing penetration and retail presence for new launches in 4 pilot states and through integrated web-based interface for stockiest and distributor self-service.
Cipla’s product pipeline includes three differentiated products undergoing clinical trials, with filings targeted in FY24. It also has filings on the complex generics including peptide injectables on track.