Cipla Q3 results: Pharma company's net profit jumps 32% to Rs 1,056 crore

Pharmaceutical giant Cipla announced a remarkable 32% surge in its third-quarter profits, surpassing market expectations. The company's consolidated net profit soared to Rs 1,056 crore, for the quarter that concluded on December 31. The total revenue from operations for the third quarter of the fiscal year 2024 for the generic drugmaker witnessed a slight decline, reaching Rs 6,603 crore in comparison to Rs 6,678 crore in the preceding quarter.

The substantial increase in profit is attributed to Cipla's robust performance in the North American market, which has significantly contributed to the company's financial success during this period. The earnings report reflects a strong fiscal position for Cipla, as it continues to expand its presence and influence in the global pharmaceutical industry.

During the quarter ending December 2023, the paid-up equity share capital rose to Rs 161.47 crore following the allotment of 5,235 and 19,734 equity shares of Rs 2 each.