Cipla, India’s second-largest pharmaceutical company, posted fourth-quarter results on Friday.
What Happened: Cipla’s net profit for the quarter ended March 31 came in at ₹939.04 crore, up 79% from the ₹525.65 crore it had earned in the same quarter last year. This figure beat analyst estimates of ₹897 crore.
The company’s year-ago profit figure was affected by a one-time exceptional item.
The drugmaker’s revenue stood at ₹6,163.24 crore, rising 7.4% from ₹5,739.30 crore a year ago. The figure was slightly lower than street expectations of ₹6,242 crore.
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The pharma giant also declared a final dividend of ₹13 per share for the fiscal year ended 2024.
The firm’s EBITDA came in at ₹1,316 crore, up 13% year on year. The company’s quarterly India revenue grew 7% to ₹2,417 crore. Meanwhile, North America revenue shot up 11% to ₹1,875 crore.
“In Albuterol, our market share was in the range of 12-13% as we ended FY24. We have a strategy in place to improve this market share by a few percentage points,” the company said in a press release.
Price Action: Cipla’s share price was down 1.3% at ₹1,340.95 following the earnings announcment. the stock had spent most of the session in positive territory.
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