AgenciesThe bottomline was also higher than the Rs 1,006 crore which was expected by analysts in an ET Now poll. Cipla's consolidated margin rose 33% YoY to 26% during the quarter. Following the earnings beat, Cipla shares rallied up to 4% to the day's high at Rs 1,196.85.
"One-India business grew at a healthy 10% YoY with continued market beating performance in the branded prescription and Trade Generics business. In South Africa, the private market business grew in double digits driven by strong execution across prescription and OTC. The North America business scaled up to $229mn, growing 28% YoY, driven by strong traction across core products with share expansion in differentiated assets," Cipla MD and Global CEO Umang Vohra said, adding that the pipeline is progressing well with key milestones achieved in Respiratory and Peptide assets.
In the branded prescription business, Cipla continued market beating growth at 11% driven by key therapies in chronic portfolio. The share of chronic improved by 140 bps YoY to 60%.
The North America business scaled new peak with quarterly revenue of $229 million, 28% YoY growth - leading to 14th consecutive quarter of YoY growth.
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In South Africa, Cipla's private market business grew at 12% YoY in ZAR terms driven by traction in prescription business and OTC. It also outpaced overall market by growing at 10% vs market growth at 4%.
At the end of the September quarter, Cipla's R&D investments stood at Rs 379 crore or 5.7 % of sales, higher by 13% YoY driven by continued progress of clinical trials on key pipeline assets.
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