May 10th 2024.
Cipla Ltd, one of the leading pharmaceutical companies in India, has recently announced its financial results for the fourth quarter of the fiscal year. According to the regulatory filing, the company has recorded a significant jump of 78.7% in its consolidated net profit, reaching a total of Rs 931.87 crore. This is a significant improvement from the previous year, where the net profit stood at Rs 521.51 crore.
The company's success can primarily be attributed to its higher sales during the quarter, with consolidated total revenue from operations reaching Rs 6,163.24 crore, a considerable increase from the previous year's Rs 5,739.3 crore. However, this growth has also led to an increase in total expenses for the company, which stood at Rs 5,153.31 crore in the fourth quarter, compared to Rs 4,946.14 crore in the same period last year.
Cipla's One-India market has shown a 7% year-on-year growth, thanks to the success of its branded prescription and trade generics. The company has also seen a significant increase in revenue from North America, which has reached $226 million, a growth of 11% from the previous year. This can be attributed to the continued success of its key differentiated assets and base portfolio.
In light of its impressive financial performance, the board of directors has recommended a final dividend of Rs 13 per equity share for the fiscal year ended March 31, 2024. This is subject to approval from shareholders at the upcoming annual general meeting. For the full fiscal year, Cipla has recorded a consolidated net profit of Rs 4,153.72 crore, compared to Rs 2,832.89 crore in the previous year. Similarly, its total revenue from operations has reached Rs 25,774.09 crore, a significant increase from the previous year's Rs 22,753.12 crore.
Cipla's Managing Director and Global CEO, Umang Vohra, expressed his satisfaction with the company's performance, stating that it has crossed the threshold of Rs 25,000 crore in revenues and achieved an operating margin of over Rs 6,000 crore for the first time. He also highlighted the success of its One-India market, North America revenue, and South Africa's position as the top prescription market, all of which have shown double-digit growth and improved profitability.
Looking towards the future, Vohra stated that in the upcoming fiscal year, the company's focus will be on achieving market-leading growth in key markets, investing in its pipeline for future growth, and resolving any regulatory challenges. With its impressive performance and clear vision for the future, Cipla is poised for continued success in the pharmaceutical industry.
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