Cipla's Q4 consolidated net loss is Rs.62 cr

Mumbai, May 25: On Thursday the Global pharmaceutical firm Cipla announced a consolidated net loss of Rs 62 crore for the fourth quarter (Q4) of year 2016-17. According to the company, the net profit for the quarter declined to Rs 62 crore. It has fallen from 93 crores in 2015-16. However, Cipla's total income for the fourth quarter increased by 8.1 per cent to Rs 3,582 crore from Rs 3,315 crore earned during Q4 of FY16.

"While the quarterly results are off the mark due to a tough operating environment and certain one-offs, we delivered on our goal of improving base EBITDA percentage year-on-year by more than 200 bps," said Umang Vohra, MD and Global CEO, Cipla. On a full financial year 2016-17 basis, the company reported that its consolidated net profit decreased by 26 per cent to Rs 1,006 crore from Rs 1,360 crore in 2015-16. On the other hand, Cipla's consolidated total income from operations during the fiscal under review edged higher by 6.1 per cent to Rs 14,630 crore from Rs 13,790 crore. 

"We have achieved significant progress on our identified key priorities and have strengthened our core business through consolidation, complexity reduction and deepening our presence in priority markets," Vohra said. "This year, we have good traction in our pipeline with 32 US ANDA filings The proof of our capabilities for the respiratory franchise for sophisticated markets with the approval of Sereflo ™ in the UK and Alberta MDI in the US". Company board directors dividend Rs. Equity share of 2 (equity shares of Rs 2 per equity share) for 2016-17, stakeholder approvals.