Mumbai: Pharmaceutical major Cipla on Friday reported muted performance for the December quarter, with profit declining sharply due to a slowdown in its US business and margin pressure, offset partly by steady growth in India and emerging markets.
The company’s consolidated revenue remained flat at ₹7,074 crore in Q3 FY26, compared with ₹7,073 crore a year earlier. Profit after tax fell 57% year-on-year to ₹676 crore, while EBITDA declined 36.9% to ₹1,255 crore, reflecting lower operating leverage and a drop in high-margin US sales.
North America revenue fell 22% year-on-year to ₹1,485 crore, largely due to the expected decline in gRevlimid sales. However, Cipla said upcoming launches, including gVictoza and multiple respiratory products, are expected to cushion the impact over the medium term.
The India business delivered strong double-digit growth of 10% year-on-year to ₹3,457 crore, supported by robust performance in branded prescriptions, trade generics and consumer health. Cipla’s chronic portfolio improved to 62.3% of the India mix, with flagship respiratory brand Foracort retaining its top position in the domestic market.
Emerging Markets and Europe posted a 13% rise in revenue, while the Africa business grew 3%. R&D investments rose 37.4% year-on-year to ₹494 crore, accounting for 7% of sales, as the company stepped up product filings and development activity.
Despite the earnings decline, Cipla maintained a strong balance sheet with net cash of ₹10,229 crore and minimal debt, largely comprising lease liabilities.
Commenting on the performance, managing director and global CEO Umang Vohra said the company remains focused on strengthening its core markets, scaling flagship brands and investing in future growth drivers while addressing regulatory challenges.