Cipla Ltd witnessed a significant uptick in its shares, soaring nearly 3% after surpassing estimates in its Q2 performance.
The company’s profit experienced an impressive 43% jump, reaching Rs 1,130.9 crore, while revenue showed a robust increase of 14.6% to Rs 6,678 crore.
These results outperformed the predictions of analysts, who had estimated the net profit and revenue to be Rs 985 crore and Rs 6,469 crore, respectively.
Cipla’s outstanding performance was attributed to strong domestic and US sales, with the company achieving its highest-ever revenue in a quarter.
The One-India business exhibited remarkable growth at 10% year-on-year, driven by exceptional performance in the branded prescription and Trade Generics segments.
Branded prescription business recorded an 11% growth, fueled by key therapies in the chronic portfolio, while the Trade Generics business achieved ‘double-digit’ growth despite weak seasonality.
Although the consumer health segment faced challenges due to inconsistent weather patterns, Cipla remained confident about its sustainable EBITDA trajectory, maintaining margins in the mid-teens. I
Investors responded positively to these exceptional results, leading to a surge in Cipla’s stock prices by 3%.
At 10:37 am the shares were trading 2.35% higher at ₹1,201.80
