Cipla Q1 net dips 39% to ₹785.55 crore as North America business drags

Drugmaker Cipla’s consolidated net profit for the quarter ended June declined 39% to ₹785.55 crore compared to the ₹1,291.61 crore in the corresponding period last year on the back of lower sales in the key North America market.

The net profit came on a more than 2% increase in total revenue from operations to ₹7,119.28 crore (₹6,957.47 crore).

Contributing to the revenue growth was a 12% increase in India business to ₹3,452 crore (₹3,070 crore). The U.S. business posted a revenue of ₹1,532 crore (₹1,933 crore). “We expect continued sequential growth in North America, supported by upcoming product pipeline,” MD and Global CEO Achin Gupta said.

South Africa private business continued to grow faster than the market. Emerging Markets and Europe maintained their growth trajectory with revenue growth of 5% y-o-y in dollar terms on the back of deep market focus strategy. Going ahead, the focus will be on growing key markets, further building flagship brands, investing in future pipeline as well as focusing on resolutions on the regulatory front, he said.