Cipla Q4 Results: Profit Falls 45%, Misses Estimates

Cipla Ltd.’s quarterly profit fell, missing estimates.

The drugmaker’s net profit fell 45% quarter-on-quarter to Rs 413.38 crore in the quarter ended March. Analysts compiled by Bloomberg had estimated the metric at Rs 621.3 crore.

Revenue fell 11% sequentially to Rs 4,606.45 crore, compared with the Rs 4,999.3-crore estimate.

• Operating profit fell 35% quarter-on-quarter to Rs 796.24 crore—also lower than the Rs 1,092.1-crore estimate.
• Operating margin stood at 17.3% compared to 23.8% in the last quarter. The consensus estimate was 21.84%.

Other Highlights

• India sales contributed to 39.2% to total sales.
• Prescription business grew by 6% year-on-year.
• Expanded Covid-19 portfolio expected to see traction along with core respiratory therapies.
• U.S. business saw market share expansion in overall market for Albuterol and institutional business.

• Has filed applications for two partnered peptide injectables for the U.S. market.

Shares of Cipla rose 0.6% on May 14 ahead of the earnings announcement compared with S&P BSE Sensex, which remained largely unchanged.