Cipla beats estimates in Q2, records 11% yoy rise in PAT to ₹789 cr
Revenue from operations jumped by 5.6% to ₹5,828.54 crore in Q2FY23 against ₹5,519.80 crore witnessed in Q2 of the previous fiscal. The company posted a revenue of ₹5,375.19 crore in June 2022 quarter.
Pharma giant, Cipla posted a nearly 11% growth in consolidated net profit to ₹788.90 crore for the quarter ending September 30, 2022 (Q2FY23) period compared to a profit of ₹711.36 crore in the same quarter a year ago. Q2 PAT also climbed by 14.9% from ₹686.40 crore in Q1FY23. EBITDA soared by 6.3% year-on-year to ₹1,303 crore in the quarter under review. Overall, Cipla surpassed estimates in Q2FY23.
Meanwhile, revenue from operations jumped by 5.6% to ₹5,828.54 crore in Q2FY23 against ₹5,519.80 crore witnessed in Q2 of the previous fiscal. The company posted a revenue of ₹5,375.19 crore in June 2022 quarter.
On segment-wise performance, Cipla's revenue from the pharmaceuticals business came in at ₹5,690.68 crore in Q2FY23 against ₹5,413.82 crore in Q2FY22. While revenue from new ventures stood at ₹278.14 crore in Q2FY23 compared to ₹139.13 crore in Q2 of FY22.
During the second quarter, Cipla's total expenses stood at ₹4,851.13 crore in Q2FY23 compared to ₹4,584.66 crore in Q2 of FY22.
On BSE, Cipla shares trade at ₹1156.40 apiece down by ₹3.55 or 0.31% at around 2.46 pm. The company's market cap is over ₹93,300 crore.
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