Drug major Cipla on Friday posted a 4 per cent decline in its consolidated profit after tax to Rs 686 crore for the April-June quarter of this fiscal.
The Mumbai-based company had reported a net profit of Rs 710 crore in the April-June quarter of the last fiscal
Drug major Cipla on Friday posted a 4 per cent decline in its consolidated profit after tax to Rs 686 crore for the April-June quarter of this fiscal.
The Mumbai-based company had reported a profit after tax of Rs 715 crore in the April-June quarter of the last fiscal.
Total revenue from operations declined to Rs 5,375 crore in the June quarter as compared with Rs 5,504 crore in the year-ago period.
Cipla MD and Global CEO Umang Vohra told reporters that the company had significant sales of COVID-19 products in the June quarter last year which were negligible in the April-June period this year.
"If we take out that element, our core business has increased in the June quarter," he noted.
Vohra said that the company would keep on investing in its domestic and US businesses going ahead.
On a query regarding the monkeypox vaccine, Vohra said that the drug firm is looking at partnerships for the same. The company is in talks with certain partners regarding the same.
On biosimilars, he noted that the company is in the process of developing one product for the global markets.
He said that there could be a few products which could be introduced in the domestic market before the launch of the product meant for global markets.
"We are closely tracking upcoming complex launches in H2FY23. Our reported operating profitability of 21.3 per cent is well within our full-year guidance of 21-22 per cent range and has grown double digit vs last year's base EBITDA despite multiple cost headwinds," Vohra said.
Cipla reported revenues of $155 million in the first quarter, a 10 per cent year-on-year (YoY) growth.
Shares of the company ended 1.08 per cent up at Rs 978.15 apiece on the BSE. PTI MSS MR