Cipla Ltd., the Indian multinational pharmaceutical company, reported a significant year-on-year (YoY) profit increase of 43% for the second quarter, according to an exchange filing on Friday. The company's profit rose to Rs 1,131 crore ($152 million), surpassing Bloomberg's consensus forecast of Rs 982 crore ($132 million). This also marked a sequential profit increase of 14%.
The firm's revenue for the same period jumped by 15% to Rs 6,678 crore ($900 million), outperforming Bloomberg's estimate of Rs 6,491 crore ($874 million). The Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) saw a significant rise of 33% to Rs 1,734 crore ($233 million), surpassing the previous margin of 22.3% and now stands at 26%.
On Friday, Cipla shares were trading higher at Rs 1,193.25 each, witnessing a substantial rise of 3.75%, in contrast to the Sensex's modest over 1% increase. The market performance reflects the positive response from investors following the company's strong quarterly results.
The robust financial performance can be attributed to Cipla's strategic focus on expanding its product portfolio and strengthening its operational efficiencies. The company's consistent growth in revenue and profits indicates its strong position in the competitive pharmaceutical industry.
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