Cipla net profit up 21% in Q1

Mumbai, Aug 11 (IANS) Leading drug maker Cipla Ltd on Friday reported Rs 409 crore consolidated net profit for the first quarter of 2017-18, registering 21 per cent growth from Rs 339 crore in the same period year ago.

In a regulatory filing to the BSE, the pharma major said consolidated income from operations for Q1, declined annually 3.4 per cent to Rs 3,525 crore from Rs 3,650 crore in the like period year ago.

Sequentially, it posted consolidated net loss of Rs 62 crore in the previous quarter on consolidated revenue of Rs 3,582 crore, which is 1.6 per cent lower.

"Ebitda (earnings before income tax, depreciation and amortisation) grew 5.7 per cent annually to Rs 646 crore in Q1 from Rs 611 crore year ago and 28 per cent up sequentially from Rs 506 crore in the last quarter," it said in the filing.

The company has invested Rs 212 crore on research and development and generated Rs 108 crore cash from operations during the quarter.

"In spite of the impact of GST (Goods and Services Tax) on our business, we had a healthy quarter, as evident from 18 per cent expanded Ebitda margins on operational efficiency and control on spends," said Cipla global Chief Executive Umang Vohra in a statement.

The pharma company is also strengthening its presence in chronic segments with Prominad and Vysov in the diabetology segment in the country and in Australia with flagship product FSPM, reinforcing its respiratory franchise expansion across developed markets.

"We are also on target to ramp-up our launch trajectory in the US market with four new products. We had strong growth in South Africa with 10 per cent annual growth and leadership in key therapies," said Vohra.

The company's Europe business grew 38 per cent annually, contributing a profitable trajectory.

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