Cipla reports 2-fold jump in Dec qtr at Rs 752 cr

Drug major Cipla on Friday reported an over two-fold increase in consolidated net profit to Rs 751.61 crore for the quarter ended December 31, 2020 on account of higher revenue from operations.

The company had posted a net profit of Rs 339.38 crore for the corresponding period of the previous financial year.

Total revenue from operations also increased by 18.24 per cent to Rs 5,168.69 crore in October-December 2020 period, compared with Rs 4,371 crore in the corresponding period a year ago, Cipla said in a BSE filing.

Cipla MD and Global CEO Umang Vohra said: ''In India, we have maintained market beating performance across our core therapies as contribution from the COVID-19 portfolio normalises in line with the reduction in infection cases. In the US, happy to see continued expansion in market share for Albuterol.'' ''Our businesses in South Africa and other international markets continued the momentum driven by strong demand in the base business and ramp-up in new launches,'' he added.

Shares of Cipla Ltd settled 1.90 per cent lower at Rs 825.60 apiece on BSE.