Cipla Ltd.’s quarterly profit rose as the drugmaker’s operating expenses fell and sales in the domestic market improved.
Net profit rose 41% year-on-year to Rs 665 crore in the quarter ended September, according to an exchange filing. That compares with the Rs 585-crore consensus estimate of analysts tracked by Bloomberg.
Revenue increased 14.6% over the last year to Rs 5,038 crore, against the Rs 4,670-crore forecast.
Cipla’s India sales rose 17% year-on-year, with growth across prescription, trade generics and consumer health business. Its prescription business grew 14% over a year ago, supported by traction in its Covid-19 portfolio, chronic therapies, recovery in the hospital portfolio. Revenue from the U.S., one of its key markets, rose 10% over a year ago.
Operating profit rose 29% year-on-year to Rs 1,177 crore, compared with the Rs 1,037-crore estimate. Margin improved to…