Cipla’s Q1 net profit increases 6 percent to Rs 478 crore

Cipla’s net profit has increased by 6 percent during the June quarter to Rs 478.19 crore. The company had also posted a profit of Rs 451.25 crore during the year-ago period. The company reported net income from operations for the three-month period under review at Rs 3894.46 crore, as against Rs 3845.84 crore during the year-ago period. The total revenue for 1QFY20 was Rs 3989.02 crore, in comparison to Rs 3938.99 crore seen during 1QFY19. The company’s earnings-before-interest, tax, depreciation, and amortization (EBITDA) is of Rs 905 crore for the June quarter, which is 25 percent higher than what was reported during the corresponding quarter last year. Moreover, the company has signed a definitive agreement to acquire the minority stake of Eight Roads in Cipla Health Limited (CHL). Eight Roads had acquired minority ownership in CHL through two rounds of investment in April 2016 and August 2018. The latest deal will grant Cipla Ltd. 100 percent ownership interest of CHL.