Cipla witnessed a remarkable surge of 7 percent, reaching a 52-week high of Rs 1,409 in the opening trade on January 23, following the company’s impressive performance in Q3 across key parameters of profit, revenue, and profitability.
In the October-December period, Cipla reported a robust net profit growth of 32.7 percent year-on-year, totaling Rs 1,049 crore, despite an exceptional loss of Rs 194.8 crore. The company’s bottomline was further boosted by a 14.2 percent year-on-year increase in revenue, reaching Rs 6,544 crore.
The growth was well-distributed across various markets, with Cipla achieving its highest-ever North American sales at $230 million, marking an 18 percent increase from the previous year. The India business also experienced significant growth, recording nearly 12 percent growth to Rs 2,859 crore. Sales from South Africa witnessed a close to 10 percent rise, reaching Rs 603 crore.
Cipla attributed the growth in the India business to a strong performance across branded prescription, trade generics, and consumer health segments. Meanwhile, the North American market benefited from sustained momentum in key assets, robust demand in the base business, and some year-end buying. The positive quarterly results have propelled Cipla shares to reach new heights in the stock market.
