Cipla Q4FY24: Net profit grows 79% YoY to Rs 939 cr
Mumbai: Pharma giant Cipla’s consolidated net profit grew 79% rising to Rs 939.04 crore in Q4 FY24 over Q4 FY23.
This was fuelled by a 10% growth in revenue to Rs 6,163 crore in Q4 FY24 compared to Q4 FY23.
Profit before tax also rose by 68.94% year-on-year to Rs 1259.26 crore in Q3 FY24.
During the same quarter, EBITDA surged by 13% to Rs 1,316 crore, with an expanded margin of 21.4% compared to 20.8% in Q4 FY23.
Revenue from Cipla's One-India business grew by 7% year-on-year, driven by branded prescriptions and trade generics.
Branded prescriptions outpaced market growth by 100 basis points, while Trade Generics maintained its market leadership. However, the consumer business was affected by soft seasonal demand.
In North America, Cipla's revenue reached $226 million, up by 11% year-on-year, supported by sustained growth in key assets and the base portfolio.
The South Africa Private Market experienced a 26% year-on-year growth in local currency terms, surpassing market growth.
Research and development (R&D) investments increased by 19% year-on-year to Rs 444 crore, accounting for 7.2% of sales, driven by product filings and developmental efforts.
The company maintains a net cash position of Rs 7,708 crore, with debt primarily consisting of lease liabilities and working capital requirements.
Cipla's board announced a final dividend of Rs 13 per equity share for FY24, with the record date set for August 2, 2024.
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