Cipla Ltd Reports 17.77% Rise in Q1 Net Profit

Pharmaceutical giant Cipla Ltd reported a 17.77% increase in consolidated net profit, reaching Rs 1,175.46 crore for the quarter ending June 30, 2024. The company's revenue saw a rise to Rs 6,693.94 crore, with significant growth in the US and South African markets. Future focus includes key market expansion and regulatory resolutions.

Pharma major Cipla Ltd reported a 17.77 per cent rise in consolidated net profit, reaching Rs 1,175.46 crore for the first quarter ending June 30, 2024. This marks a significant improvement from Rs 998.07 crore in the same period last fiscal, as stated in the company’s regulatory filing.

The consolidated total revenue from operations for the reviewed quarter was Rs 6,693.94 crore, up from Rs 6,328.89 crore year-over-year. Total expenses increased to Rs 5,242.77 crore compared to Rs 5,090.58 crore in the corresponding previous period.

Cipla Ltd MD and Global CEO, Umang Vohra, noted that the 'One-India' business grew by 10 per cent, while the US business achieved record-high quarterly revenue of USD 250 million. In South Africa, local currency growth hit 19 per cent Y-o-Y driven by the private market. Future plans focus on market expansion, flagship brand development, and regulatory resolutions.