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Cipla's net earnings for 3rd quarter witnessed a slideNew Delhi: Drug major Cipla on Tuesday reported a 2.6 per cent decrease in its consolidated profit after tax to Rs 729 crore for the third quarter ended on December 31, 2021.
The Mumbai-based company had actually published a combined profit after tax (PAT) of Rs 748 crore in the October-December quarter of 2020-21 fiscal.Total earnings from operations, nevertheless, increased by 6 per cent to Rs 5,479 crore in the third quarter as compared with Rs 5,169 crore in the very same duration of last financial, Cipla stated in a regulatory filing.
I am delighted to see the strong launch and industrial momentum across our core markets during the quarter.
Our portfolio execution in top quality markets of India and South Africa and strong breathing traction driving our US generic franchise to a multi-quarter high quarter were crucial drivers, Cipla MD and Global CEO Umang Vohra noted.The unlocking of the business's very first peptide asset, lanreotide injection is a crucial step in strengthening complicated generics engine, inching up the drug maker's US footprint, he added.
Our EBITDA margins for the quarter was available in at 22.7 per cent and offered the year to date traction, we are well positioned to close the year in-line with our guidance of 22 per cent.
We continue our efforts to enhance client gain access to for treatments including covid items and ensuring sufficient supply throughout all our markets, Vohra stated.The company stated its domestic revenues stood at Rs 2,518 crore in the third quarter, up 13 percent from Rs 2,231 crore in the same period of previous financial.
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