NEW DELHI: Drugs major Cipla announced on Friday that its consolidated net profit rose 45 percent to Rs.526 billion for the fourth quarter ended March 31, 2023, on the back of robust sales in its domestic and US markets.
The Mumbai-based company had reported net income of Rs.362 crore for the January-March quarter of fiscal year 2021-22.
Total revenue from operations rose to Rs.5,739 crore in the fourth quarter compared to Rs.5,260 crore in the same period last year, Cipla said in a regulatory filing.
For the year ended 31 March 2023, the drug maker reported a consolidated net profit of Rs.2,802 crore versus Rs.2,517 crore in FY22. Total sales increased to Rs.22,753 crore for the most recent fiscal year versus Rs.21,763 crore in FY2021/22.
“In FY23, we reported our highest revenue ever, with EBITDA reaching 5,000 billion across our acute and chronic therapies for the first time,” Cipla MD and Global CEO Umang Vohra remarked.
The company’s continued focus on a differentiated portfolio has strengthened its US business, which posted its highest-ever quarterly sales of $204 million and $733 million for FY23, he added.
“Corona-adjusted, our core operating profitability remains strong at 23 percent, up 100 basis points year-over-year. We look forward to the year ahead as we expand our leadership in branded markets and expand our differentiated pipeline.” Vohra written down.
The company said its board had recommended a final dividend of Rs.8.50 per share at Rs.2 per share for the year ended March 31, 2023.
The company’s shares were trading on the BSE down 0.73 percent at Rs 936.80 a share.
The Mumbai-based company had reported net income of Rs.362 crore for the January-March quarter of fiscal year 2021-22.
Total revenue from operations rose to Rs.5,739 crore in the fourth quarter compared to Rs.5,260 crore in the same period last year, Cipla said in a regulatory filing.
For the year ended 31 March 2023, the drug maker reported a consolidated net profit of Rs.2,802 crore versus Rs.2,517 crore in FY22. Total sales increased to Rs.22,753 crore for the most recent fiscal year versus Rs.21,763 crore in FY2021/22.
“In FY23, we reported our highest revenue ever, with EBITDA reaching 5,000 billion across our acute and chronic therapies for the first time,” Cipla MD and Global CEO Umang Vohra remarked.
The company’s continued focus on a differentiated portfolio has strengthened its US business, which posted its highest-ever quarterly sales of $204 million and $733 million for FY23, he added.
“Corona-adjusted, our core operating profitability remains strong at 23 percent, up 100 basis points year-over-year. We look forward to the year ahead as we expand our leadership in branded markets and expand our differentiated pipeline.” Vohra written down.
The company said its board had recommended a final dividend of Rs.8.50 per share at Rs.2 per share for the year ended March 31, 2023.
The company’s shares were trading on the BSE down 0.73 percent at Rs 936.80 a share.
