Cipla shares: Due to a robust respiratory season, Cipla also recorded its greatest quarterly revenue for the North American business. In the first trading session on January 23, Cipla’s shares surged 7% to reach a 52-week high of Rs 1,409, just one day after the business reported a solid third-quarter performance across all major metrics of profit, revenue, and profitability.
Despite a remarkable loss of Rs 194.8 crore, the company’s net profit for the quarter increased 32.7 percent year over year to Rs 1,049 crore. A 14.2 percent year-over-year gain in sales to Rs 6,544 crore during the October–December period also contributed to the bottom-line growth. The growth was widely distributed across various markets, with the company achieving its highest-ever North American sales of $230 million, marking an 18 percent year-on-year increase. The Indian business demonstrated substantial growth, reaching nearly 12 percent at Rs 2,859 crore, while sales from South Africa experienced a close to 10 percent upturn, reaching Rs 603 crore.
Growth in India was driven by excellent performance in branded prescription, trade generics, and consumer health, while in North America it was aided by continued momentum in key assets, sustained demand in base business, and some year-end buying. The South African business benefited from an increase in income in local currency terms. This result was aided by strong traction in prescription, OTC (over-the-counter), and tender.
Cipla shares surged 7% to a 52-week high on excellent Q3 earnings.
On the NSE, Cipla shares were trading at Rs 1,390.35 as of 9.28 am. The excellent quarterly performance also helped the company’s operating margins, which increased to 26.5 percent in Q3 from 24.2 percent a year earlier.
In Q3, the company also submitted a generic version of the asthama medication Symbicort and one other inhalation product. It also intends to commercialize four peptides in FY25.
