Cipla Q2FY24 results: Net profit rises 45% YoY, total income surges 15%. Shares jump

livemint.com:

Q2 results today: Phara major Cipla has declared its second quarter results for the financial year 2023. The board of directors of the company considered and approved the unaudited financial results of the company for July to September 2023 quarter in its board meeting held on Friday. Beating the market estimates, Cipla reported rise in net profit and total income both in terms of quarterly and yearly basis.

During July to September 2023 quarter, Cipla has reported a net profit at ₹1,155.37 crore, logging 45 per cent YoY rise against its Q2FY23 net proit of ₹797.41 crore. In April to June 2023 quarter, Cipla had reported a net profiit of ₹998.07 crore. So, the pharma major has registered growth in net profit both sequentialy and on yearly basis.

During H-1FY24 period, company's net profit stood at ₹2,153.44 crore, which is over 43 per cent higher against the unaudited net profit of ₹1,503.55 crore in H-1FY23. During July to September 2023 quarter, company's total income stood at ₹6,854.47 crore, which stood at ₹5,951.49 crore in Q2FY23. So, the pharma company has registered around 15 per cent rise in its net profit on yearly basis.

company's total income in Q1FY24 was at ₹6,465.18 crore. Thus, in QoQ terms, Cipla has logged around 6 per cent rise whereas in year-on-year terms, cipla reported over 15 per cent rise in total income. Company has reported a total income of ₹13,319.65 crore in first six month of FY24, near 16.53 per cent higher against total income of ₹11,430.11 crore in H-1FY23.