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ICICI Direct Report
Cipla Ltd.’s Q2 revenues grew 14.6% YoY to Rs 5,038 crore due to 19.8% YoY growth in domestic formulations to Rs 2090 crore.
U.S. revenues grew 10.1% YoY to Rs 1,049 crore. Rest of World markets grew 28.2% YoY to Rs 828 crore.
Europe grew 30.0% YoY to Rs 247 crore. Active pharmaceutical ingredient segment grew 20.4% YoY to Rs 189 crore.
Ebitda margins improved 266 basis points YoY to 23.4% on account of a sharp drop in other expenditure amid Covid-19, partly offset by lower gross margins due to change in product mix.
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