Cipla Q1 net dips 4% to Rs 686 cr, revenue down 2% on tapering Covid sales

Domestic revenue dips 8.4% as Covid-19 share of branded prescription business normalises; North American business up 10% to $155 million

Mumbai-based Cipla reported a post-tax profit of Rs 686.4 crore for the first quarter of fiscal 2022-23, down 3.96 per cent YoY, while its consolidated revenues shrunk 2 per cent to Rs 5,375 crore.

Cipla’s India revenue, consisting of trade generics, prescription business and consumer health, dipped 8.4 per cent YoY during the quarter, to Rs 2,483 crore. The company said this was due to normalisation in the share of Covid-19 drugs in the branded prescription business. Adjusted for Covid drugs, Cipla said its India business grew nine per cent, driven by core brands.

Umang Vohra, MD and