Cipla Q1 Profit Surges 17.77% to Rs 1,175.46 Crore

New Delhi, Jul 26 (PTI) Pharma major Cipla Ltd on Friday reported a 17.77 per cent rise in consolidated net profit at Rs 1,175.46 crore in the first quarter ended June 30, 2024.

The company had posted a consolidated net profit of Rs 998.07 crore in the first quarter of the last fiscal, Cipla Ltd said in a regulatory filing.

Consolidated total revenue from operations during the quarter under review stood at Rs 6,693.94 crore as against Rs 6,328.89 crore in the year-ago period, it added.

Total expenses in the first quarter were higher at Rs 5,242.77 crore as compared to Rs 5,090.58 crore in the corresponding period last fiscal.

"Our 'One-India' business continued on its growth trajectory during the quarter, led by branded prescription which grew at 10 per cent. Our concentrated focus and execution in the differentiated portfolio have further strengthened the US business which yet again posted all-time high quarterly revenue at USD 250 million," Cipla Ltd MD and Global CEO, Umang Vohra said.

In South Africa, he said, "We recorded a solid growth of 19 per cent Y-o-Y in local currency terms, led by the private market."

Going ahead, Vohra said, "Focus will be on growing our key markets, further building our flagship brands, investing in the future pipeline as well as focusing on resolutions on the regulatory front.