Global pharmaceutical firm Cipla on Thursday reported a consolidated net loss of Rs 62 crore for the fourth quarter (Q4) of 2016-17.
According to the company, its consolidated net loss during the quarter under review declined to Rs 62 crore from Rs 93 crore in the corresponding period of 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 had good traction on our pipeline with 32 US ANDA filingsand a proof of concept of our capabilities for the respiratory franchise for the advanced markets with approval of Sereflo™ in UK and Albuterol MDI filing in the US."
The company's Board of Directors has recommended a dividend of Rs. 2 per equity share (face value Rs. 2 per equity share) for the year 2016-17, subject to the shareholders' approval.
INDO-ASIAN NEWS SERVICE | May 25 , 2017