Stock Market

Cipla Q4 net disappoints at Rs 80cr; topline at Rs 3266cr

Chillicious Team

Mumbai-based pharmaceuticals firm Cipla said its fourth quarter total income came in at Rs 3,266 crore, EBITDA at Rs 219 crore and net profit at Rs 80 crore, compared to Rs 3092 crore, Rs 508 crore and Rs 260 crore.

A CNBC-TV18 poll had forecast the firm to post net profit of Rs 362 crore, EBITDA of Rs 610 crore on revenues of Rs 3,293 crore.

The company said several one-offs hit the company’s operations, whose margins came in single digits (6.7 percent) for the first time in several margins.

These included one-time restructuring costs, write-off of non-moving inventory, changes due to tweaks in the Payments of Bonus Act and increased R&D spend.

Accounting for these, the company’s EBITDA and net profit were in the normal range, Anant Atal, Head of Investor Relations said in a conference call.

The company’s domestic sales rose 15.9 percent to Rs 1,258 crore while the European business too held up well.

To be updated.