Cipla reports 68.5% growth in domestic arena for June quarter

The growth is attributed to the increasing demand for Covid-19 medicines. The company reported a consolidated net profit of Rs. 715 crores in the first quarter which ended in June.

Multinational pharmaceutical company Cipla reported a growth of 68% in the domestic arena. The growth is attributed to the increasing demand for Covid-19 medicines.  The company reported a consolidated net profit of Rs. 715 crores in the first quarter which ended in June.

Along with India, the US also contributed to the stable growth of Cipla’s revenue. US business saw an increase of 5% to $141 million. The success of its respiratory drug albuterol is considered as the driving force for this sharp growth.

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“I am pleased to see the robust demand led traction in core therapies across our branded markets and continued cost control leading to 27 per cent revenue growth,” told Umang Vohra, Managing Director and Global Chief Executive Officer to The Economic Times.

“Our reimagined approach to operations led to robust Q1 performance. Despite the abject conditions of Covid, this resilient growth is a testimony to the Cipla spirit, wherein every Ciplaite worked together to deliver what patients needed, ” he said in a video posted on Twitter.

 

As opposed to its previous quarter revenues, the company reported a 27% growth in its overall revenue marking. The revenue marking for the June quarter was Rs. 5,504 crore. 

In other countries like South Africa, the company sales increased by 7.6% in the private market.