Cipla Limited Reports Unaudited Consolidated and Standalone Earnings Results for the First Quarter Ended June 30, 2018: Provides Tax Rate Guidance for the Fiscal Year 2019
August 08, 2018 at 09:41 am EDT
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Cipla Limited reported unaudited consolidated and standalone earnings results for the first quarter ended June 30, 2018. For the quarter, on consolidated basis, the company reported total income from operations of INR 39,389.9 million against INR 35,250.5 million a year ago. Net profit for the period (before tax, exceptional and/or extraordinary items) was INR 6,203.9 million against INR 5,565.5 million a year ago. Net profit for the period before tax (after exceptional and/or extraordinary items) was INR 6,203.9 million against INR 5,565.5 million a year ago. Net profit for the period after tax, non-controlling interest and share of profit of associates was INR 4,512.5 million against INR 4,088.2 million a year ago. Diluted earnings per share were INR 5.59 against INR 5.07 a year ago. EBITDA was INR 7,260 million against INR 6,460 million a year ago. Profit after tax impacted positively by the second tranche of the divestment proceeds of INR 850 million recorded in other income with respect to the company's stake in Chase Pharmaceuticals, which is working on development of an Alzheimer's drug. The outstanding forward contract as cash flow hedges as of June 30, are USD 131 million.
For the quarter, on standalone basis, the company reported total income from operations of INR 29,875.7 million against INR 26,842.5 million a year ago. Net profit for the period before tax was INR 5,249.3 million against INR 3,410.5 million a year ago. Net profit for the period after tax was INR 3,905.5 million against INR 2,590.1 million a year ago.
The company expects fiscal full year 2019 effective tax rate of about 28%.
Cipla specializes in development, manufacturing and marketing of pharmaceutical products. The group provides prescription products and OTC medicines for the treatment of cardiovascular, ophthalmic and dermatological diseases, respiratory troubles, cancers, allergies, infections etc. Besides, Cipla develops and sells veterinary products.
Net sales by source of income break down between sale of products (96.9%) and services (3.1%).
Net sales are distributed geographically as follows: India (39.4%), the United States (18.5%), South Africa (17%) and other (25.1%).
Cipla Limited Reports Unaudited Consolidated and Standalone Earnings Results for the First Quarter Ended June 30, 2018: Provides Tax Rate Guidance for the Fiscal Year 2019