Cipla Q2 net profit falls 35% to ₹878 crore as North American revenue drops 19%

Cipla's consolidated net profit fell 35% year on year to ₹878 crore in the second quarter ended September, as North American revenue declined 19%. The drugmaker's total income from operations fell 2% to ₹7,404 crore, while domestic revenue rose 12% to ₹3,516 crore, Cipla reported.

Cipla Q2 revenue falls 2% as EBITDA declines to ₹1,388 crore

Cipla reported total income from operations of ₹7,404 crore for the quarter, down 2% year on year. Its consolidated net profit for the quarter ended September was ₹878 crore, a 35% decline from a year earlier.

For the quarter ended September, Cipla reported EBITDA of ₹1,388 crore, compared with ₹1,895 crore in the year-earlier quarter. The company said its operating margin was 18.7%, down from 25% in the corresponding quarter.

Domestic revenue rises to ₹3,516 crore as North American sales fall

Cipla said revenue from its domestic business, which includes prescription medicines, trade generics and consumer health, rose 12% year on year to ₹3,516 crore. A company announcement on the stock exchange said the branded prescription business recorded market growth of 15%.

North American revenue fell 19% to ₹1,643 crore, according to Cipla. The company said revenue from the region increased by $10 million from the previous quarter to $172 million and that the business continued to grow sequentially.

Cipla receives Advair Diskus approval and partners on Keytruda biosimilar

The United States Food and Drug Administration approved Cipla's generic Advair Diskus. Cipla described the approval as the first dry powder inhaler approval from its US manufacturing network.

Cipla entered an exclusive partnership with Qilu Pharmaceutical to commercialise a biosimilar of Keytruda. The company also reported that revenue from its One Africa business declined 1% to ₹1,171 crore.

Cipla says its upcoming pipeline will support North America

Achin Gupta, managing director and global chief executive officer of Cipla, said the company's upcoming product pipeline would support North America.

Gupta said Cipla remained focused on sustained growth, productivity and pipeline development.