Cipla Q4 results: Profit drops 33% to Rs 238 crore; misses Street estimates

NEW DELHI: Drug major Cipla on Friday reported a 33.32 per cent year-on-year (YoY) drop in consolidated net profit at Rs 238.49 crore for the March quarter, compared with Rs 357.68 crore in the same quarter last year.

The profit figure missed ET NOW poll estimate of Rs 355 crore.

Revenue from operations for the quarter fell to Rs 4,376.19 crore from Rs 4,403.98 crore in the year-ago quarter.


The company said it will also raise up to Rs 3,000 crore by issue of equity shares, depository receipt or bonds subject to approvals.

Cipla said its India business delivered a third consecutive quarter of market-beating double-digit growth and that the full year growth was at 9 per cent.

Cipla's South Africa private business delivered 11 per cent growth on a YoY basis. The company is the third largest player overall in the country with a market share of 6.9 per cent. Its over the counter (OTC) market share stands at 7.1 per cent.

The fourth quarter R&D spend was at Rs 311 crore or 7 per cent to sales. For the full fiscal 2020, R&D spend was at Rs 1,175 crore or 7 per cent to sales.

The company said its Ebitda margin stood at around 15 per cent, which was impacted by 200 bps due to Covid-related cutoff. In the year ago period, the margin was at 21.8 per cent.