Pharmaceutical major Cipla on Monday revealed its third quarter financial results for FY24 with consolidated net profit of ₹1,056 crore, a 32% rise as compared to the year-ago period, led by strong performance in its North American business. In the corresponding quarter of the preceding fiscal year, the company had recorded a net profit of ₹801 crore.The generic drugmaker's total revenue from operations for Q3 FY24 saw a marginal dip at ₹6,603 crore as compared to ₹6,678 crore in the previous quarter, up 13.66% from ₹5,810.09 crore in the corresponding period a year ago. Also read: Coforge Q3 Results: Net profit rises 31% QoQ to ₹238 crore, interim dividend declared"Our topline growth for the quarter was at an impressive 14% YoY with strong EBITDA margins at 26.3%. One India business grew at a healthy 12% YoY backed by strong performance across Branded Prescription, Trade Generics and Consumer Health," said Umang Vohra, MD and Global CEO of Cipla.During the December quarter, the company reported an 8.78% increase in total expenses, amounting to ₹5,119.81 crore, compared to ₹4,706.47 crore in the same period last fiscal year.Cipla's third-quarter total income reached ₹6,788.44 crore, marking a notable increase of 14.58 percent. Within the quarter, the pharmaceutical segment contributed ₹6,365.06 crore to the revenue, while new ventures contributed ₹280.51 crore.The total segment revenue of the drugmaker rose over 12.61% from ₹6,645.57 for the quarter ended in December 2023 from ₹5,901.13 a year ago. Meanwhile, its EBITDA surged 24.2% YoY to ₹1,748 crore.Vohra further added, “In North America, we continue to scale newer peaks by posting the highest ever quarterly revenue yet again at $230 million, supported by positive traction in key assets and base business. Our South Africa business further extended its momentum from last quarter by growing at 15% in local currency terms driven by strong execution across prescription, OTC and tender.”Also read: Q3 results: MRPL posts net profit of ₹392.08 crore, declares interim dividendThe North American segment achieved a milestone by reaching a quarterly revenue of $230 million, marking an impressive 18% year-over-year growth. This success was underpinned by sustained momentum in crucial assets, strong demand in the core business, and additional support from year-end purchasing activities.Meanwhile, in South Africa, Cipla maintained its growth trajectory, recording a robust 15% year-over-year revenue increase in local currency terms. This achievement was fueled by positive traction in prescription, over-the-counter (OTC) sales, and tender transactions.The paid-up equity share capital increased to ₹161.47 crore upon allotment of 5,235 equity shares and 19,734 equity shares of 2 each, respectively during the quarter ended December 2023.