Healthcare firm Cipla has reported a 35 per cent degrowth in second quarter profit at Rs 354.3 cr as compared to year-ago period, affected by weak operational performance. The revenue grew by 8.6 per cent year-on-year (YoY) to Rs Rs 3,751 cr in September quarter, driven by India and US businesses. Numbers weren’t comparable entirely as the US and overall business helped by consolidation of Invagen and numbers in FY16 benefitted from the supplies of Nexium generic API.
Earnings before interest, tax, depreciation and amortization or EBITDA slipped 13.4 per cent to Rs 681 cr and margin contracted by 465 basis points to 18.1 per cent on yearly basis. India business showed strong with most therapies growth and retaining leadership position, which contributed 39 per cent to revenue, up 21 per cent year-on-year at Rs 1,467 cr in Q2.
North America, which contributed 18 per cent to sales, increased 38 per cent to Rs 660 cr on yearly basis, driven by novel launches in Q2 with majority of products that has double digit market share. South Africa business grew by 3 per cent YoY to Rs 459 cr while emerging markets fell 1 per cent to Rs 845 cr, Europe down 27 per cent at Rs 116 cr and Global API sales declined 50 per cent YoY to Rs 110 cr.
On 9th November, Cipla share price closed at Rs.526.30 on the NSE. Cipla is analyzed by Dynamic Levels as the top 500 performing stocks for this quarter among the 1700 stocks which are listed on the NSE. Cipla is fundamentally strong and is safe for investment, as per Dynamic Levels analysts. In order to know about the support and resistance levels of the scrip and also its fundamentals and financials, please a pay a visit to Cipla share price history.
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