Cipla's Q2 Surge: Record Profits Amidst Global Market Growth

Pharmaceutical giant Cipla reported a 17% increase in net profit for Q2 2024, reaching Rs 1,303 crore. The growth was fueled by strong sales across global markets, with notable increases in the US and South Africa. Cipla aims to expand its market presence and strengthen its flagship brands.

Drug major Cipla has posted a significant 17 percent jump in consolidated net profit for the second quarter, ending September 2024, reaching Rs 1,303 crore. The upbeat profits are attributed to robust sales performance across various markets globally.

In comparison, Cipla's net profit stood at Rs 1,115 crore in the same period of the previous year. The company also reported an increase in total operating income to Rs 7,051 crore, compared to Rs 6,490 crore during the prior year's corresponding period, as per the regulatory filing.

Moreover, under the leadership of Cipla MD and Global CEO Umang Vohra, the company's revenue witnessed an impressive 9 percent growth, achieving the highest-ever EBITDA margin of 26.7 percent. While the 'One-India' business faced challenges due to a shift in seasonal patterns, key chronic therapies in the prescription segment outpaced market growth.

(With inputs from agencies.)