New Delhi: Drug major Cipla on Friday posted 73 per cent rise in consolidated net profit at Rs 412 crore for the fourth quarter ended March 31, 2021 on the back of robust sales across markets.
The Mumbai-based firm had reported a net profit of Rs 238 crore in January-March 2019-20.
Total revenue from operations rose to Rs 4,606 crore as compared with Rs 4,376 crore in the same period of 2019-20, Cipla said in a regulatory filing.
For the entire 2020-21 fiscal year, Cipla reported a consolidated net profit of Rs 2,389 crore as against Rs 1,500 crore in 2019-20.
Total revenue from operations in the last fiscal year rose to Rs 19,160 crore as against Rs 17,132 crore in 2019-20.
The drug maker said its domestic prescription business grew 6 per cent while the overall business in South Africa rose 10 per cent on a year-on-year basis. Similarly, the US business reported USD 138 million in revenue.
Commenting on the COVID situation, Cipla MD and Global CEO Umang Vohra said the company stands firmly with the nation as it continues the fight against a massive second wave of the pandemic.
"We are privileged to be a part of an industry which is at the centre of this fight. We have been relentless in our efforts to ensure the continuity of supply of life saving drugs. We have significantly expanded our capacity for COVID drugs and have also partnered with global pharma companies and government authorities to bring innovative treatment options to the country," he noted.
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The company's board recommended a final dividend of Rs 5 per share (face value Rs 2 each) for 2020-21.
Last June, Cipla was granted regulatory approval by the Drug Controller General of India (DCGI) for the launch of Favipiravir in the country under the brand name Ciplenza.
Favipiravir is an off-patent, oral anti-viral drug that has been shown to hasten clinical recovery in COVID-19 patients with mild to moderate symptoms.
In July, the company launched a generic version of antiviral drug remdesivir at Rs 4,000 per vial which has seen high demand due to the Covid-19 pandemic.
Remdesivir is used for the treatment of suspected or laboratory-confirmed COVID-19 infection.
Early this week, Eli Lilly issued a royalty-free, non-exclusive voluntary license to Cipla to manufacture and market baricitinib which is used in Covid-19 treatment.
Cipla shares on Friday ended flat at Rs 904.10 apiece on the BSE.
(With Agency Inputs)
