The drug manufacturers have announced their Q4 financial results during this coronavirus pandemic. The Pharmaceutical sector has announced mixed numbers. While some of them have got good numbers, others have reported losses.
Let’s check how India’s top drug manufacturers performed in Q4
One among the major drug manufacturers in our country, Cipla has reported 33.32 per cent drop in consolidated net profit at Rs 238.49 crore for the fourth quarter, compared to Rs 357.68 crore in the same quarter last year. The company’s revenue from operations decreased to Rs 4,376.19 crore from Rs 4,403.98 crore in the same quarter last year. The company’s EBITDA margin is at 15 per cent.
How market reacted to Q4 result?
The share price of Cipla closed 4.97 per cent lower at Rs 470.30 on the BSE post the announcement of Q4 earnings.
The company said that it will raise up to RS 3000 crore through issue of equity shares, depository receipts or bonds which will be subject to approval. It has also said that it’s India business has delivered market beating double digit growth for the third consecutive quarter and the full year growth was around 9 per cent.