MUMBAI: Cipla said it expects to end FY24 with the earnings before interest, tax, depreciation and ammortisation (Ebitda) margins of 24%, making it the drugmaker’s highest ever margins led by sustained US and India sales momentum. Cipla’s Ebitda margin expanded 230 basis points yoy to 26.3% in Q3FY24 while in the first nine months the Ebitda stood with Ebitda margins of around 25.3%.
“We enter reverse seasonalist in our India business. The fourth quarter has always been the lowest, so that impacts our margins,” Umang Vohra MD and Global CEO of Cipla, said in a post-earnings media call.
“We still stick to our full year being 24% or marginally higher than 24,” Vohra added. He said the shipments using the Red Sea route to reach US and Europe are seeing cost escalations due to attacks by Houthi rebels of Yemen on merchant ships.
Vohra projects the US revenue of Cipla to stay in the range of $220-225 million per quarter, before new launches happen. Cipla’s North America sales which constitute primarily US grew 19.8% yoy to Rs 1,916 crore.
