New Delhi: Drug company Cipla reported a 79.1 percent year-on-year (Y-o-Y) increase in profit after tax (PAT) during the fourth quarter of FY24, reaching Rs 939.04 crore.
The company also reported a 7.4 percent growth in consolidated operating revenue, which totaled Rs 6,163.24 crore. This increase in PAT can be ascribed to higher income in India, South Africa, and North America, according to reports.
The earnings before interest, taxes, depreciation, and amortisation (EBITDA) increased by 12.9 percent to Rs 1316 crore. The EBITDA margin increased 54 basis points year on year to 21.4 percent. Cipla's EBITDA margins at the end of FY24 were 24.5 percent, up from 22.2 percent in FY23.
Notably, on a sequential basis, the company's PAT fell 11.06 percent, while revenue dropped 6.67 percent. The Ebitda (earnings before interest, tax, depreciation, and amortisation) increased 13 percent year on year to Rs 1,316 crore.
"In FY24, Cipla's revenues crossed the Rs 25,000 crore threshold, while operating margins significantly improved to cross Rs 6,000 crore for the first time, growing a healthy 14 percent on topline and 26 percent on profitability year on year", Umang Vohra, Cipla's managing director (MD) and global CEO, said.
This was supported by One-India sales exceeding Rs 10,000 crore, North America revenue exceeding $900 million, and South Africa taking the lead in the prescription market, with all three businesses rising in double digits over the previous year and improving profitability.
As per reports,the Cipla board recommended paying a final dividend of Rs. 13 per equity share (face value of Ko. 2 per equity share) for the fiscal year ending March 31, 2024.
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