Cipla Q3 results: Pharma major records highest ever revenue and EBITDA margin

Cipla's EBITDA (earnings before interest, taxes, depreciation, and amortization) in the third quarter came in at ₹1,747.7 crore, rising 24% against ₹1,408.4 crore it had posted in the October-December quarter last year.

Cipla's margin jumped to its highest-ever 26.5% in the quarter under review. It had posted a margin of 24.2% in the same quarter a year ago.

In North America, Cipa posted its highest-ever quarter at $230 million at 18% YoY growth, backed by continuing momentum in key assets and robust demand in base business.

Another key market, South Africa, also recorded a 15% YoY increase in revenue in local currency terms, supported by positive traction in prescription, OTC, and tender.

Cipla's research and development (R&D) investments stand at ₹400 crore, or 6.1% of sales, higher by 10% YoY, driven by product filings and developmental efforts.

On Cipla's Q3 results, Umang Vohra, MD and Global CEO of the pharma major said, "I am happy to announce results for yet another quarter which further established our strengths of our core business in India, North America, and South Africa. Our topline growth for the quarter was at an impressive 14% YoY with strong EBITDA margins at 26.3%... Our focus continues on expansion in chronic therapies, growing big brands, global wellness, as well as developing our R&D pipeline in respiratory and peptides. We will continue to focus on driving profitable growth across businesses.”

Cipla's had to reschedule its Board of Directors meeting to Monday, which was originally slated for Thursday, January 25, 2024. The decision came after Cipla encountered a situation where parts of its potential standalone financial results for the nine months ending December 31, 2023, were found circulating on social media.