Indian drug major Cipla Ltd, on Friday, reported a 10.9 per cent year-on-year (YoY) increase in its consolidated net profit at Rs 788.9 crore for the quarter that ended September 30, 2022. This increase in consolidated net profit could be attributed to the rising demand for its drugs and inhalers and a boost in its new ventures.
The company, in a regulatory filing, also revealed that its total revenue from operations increased 5.57 per cent on year to Rs 5,828.54 crore. The pharma companyтАЩs EBITDA stood at Rs 1,303 crore during the September quarter.
Cipla also revealed that its new ventures segment reported an EBIT profit of Rs 23.59 crore as against a loss of Rs 30.74 crore in the year-ago period. Its total revenue from operations rose to Rs 5,829 crore for the September quarter from Rs 5,520 crore in the year-ago period.
The company, which has been on an acquisition spree in recent months, had acquired supplement maker Endura Mass, medical diagnostics firm Achira Labs and health tech company GoApptiv.
In respect of the transfer of an India-based US business undertaking, the board decided not to proceed with the proposed transfer, considering various factors, including the current operating environment, it added.
Shares of the company were trading 0.5 per cent up at Rs 1,154.10 apiece on the BSE.
