Cipla Q2 Results FY2023, PAT at Rs. 789 Crores

On 4th November 2022, Cipla announced its quarterly results for the second quarter of FY2023.
 

Q2FY23 Performance updates:

-   Revenue from Operations grew by 12% YoY to Rs. 5829 crores 
- EBITDA was up 22.3% YoY at Rs. 1302 crore
- PAT was up by 13.5% YoY at Rs. 789 crores. 

Business Highlights:

- One India business gained robust traction in the core portfolio across therapies and business segments. Trade generic business gained strong traction across all flagship trade generic brands driving 15% YoY growth with Robust order flow from Tier 2-6 & rural towns. The consumer health business achieved strong growth across anchor and transitioned brands driving 22% YoY growth in the overall consumer health business.
- South Africa private market recovery on track; 28% sequential growth in ZAR terms; Tender business performance in-line. 
- The North American market reported a multi-quarter high of $179 million in revenue and 25% YoY growth. Successful launch of Lenalidomide and continued market share expansion in Lanreotide 505b2
- International Markets maintained scale over Q2FY22 excluding covid contribution in base, despite forex volatility.
- API continued growth in emerging markets offsetting normalization in inventory levels for European customers

Commenting on the results, Umang Vohra MD and Global CEO, Cipla Ltd said: “Our Q2FY23 performance reflects strong momentum in One-India business and solid execution on differentiated portfolio in the US including the launch of Lenalidomide, driving our overall revenue to a multi-quarter high and expansion in our reported operating profitability, despite external headwinds. Our reported operating profitability of 22.3% and is tracking well within our full year guidance of 21-22% range. Our proactive logistics management, cost rigor and calibrated pricing actions have helped offset the adverse impact of inflationary cost elements on profits. We are closely working with USFDA on Goa observations, de-risking key assets and improving compliances holistically across manufacturing locations”.