Cipla Q1 Results FY2023, PAT at Rs. 686 crores

On 29th July 2022, Cipla announced its quarterly results for the first quarter of FY2023.

Q1FY23 Key Highlights:

- The total income stood at Rs. 5375 crores, with a decline of 2.3%

- EBITDA stood at Rs. 1143 crores with a drop of 15%

- PAT stood at Rs. 686 crores with a decline of 4%

Business Highlights:

- One-India: Sustained momentum in the core portfolio across branded prescription, trade generics, and consumer health over last year; 9% YoY growth adjusted for covid portfolio 

- SAGA: Muted growth in South Africa (SA) private primary sales with recovery expected in Q2; strong secondary demand with SA private outperforming market 

- US business: Reported $155 million in revenue and 10% YoY growth; steady momentum in core formulation business led by contribution from respiratory and peptide assets

- R&D investments stand at Rs. 274 crores or 5.1% of sales; with a growth 4% YoY driven by ongoing clinical trials on a respiratory asset and other developmental efforts 

Commenting on the results, Umang Vohra, MD and Global CEO, Cipla Ltd said: “I am pleased to see the sustained momentum across our key segments with strong secondary growth across geographies. The core portfolio momentum in One-India business continues to be robust driven by strong demand levers. Our US run rate continues to witness consistent traction in respiratory, complex generics and peptide portfolio. We are closely tracking upcoming complex launches in H2FY23. Our reported operating profitability of 21.3% is well within our full year guidance of 21-22% range and has grown double digit vs last year base EBITDA despite multiple cost headwinds. Our cost rigor and calibrated pricing actions have helped offset inflationary cost elements, and insulate margins while maintaining high serviceability.”