Piggy-backing on good growth from India and South Africa, Cipla posted a turnaround performance for Q4FY18. From a net loss of Rs.62 crore in Q4FY17, Cipla posted a net profit of Rs.179 crore in Q4FY18 on  3% (YoY) rise in total revenue at Rs.3698 crore. EBITDA before exceptional item was at Rs.557 crore, up 10% with margins improving 93 bps from 14.1% to 15.1%.

South Africa business delivered a record quarter of R1bn+ sales (adjusted for one-offs) recording 18% growth for Q4 (YoY) in US $ terms. India grew 13% and North America 4%. On the other hand, emerging markets, Europe and API reported decline of 3%, 13% and 17.5% respectively.

The R&D investments in the quarter ramped up to 7.6% of revenues - increase was driven by clinical trial charges related to Advair among others.

The stock market has reacted positively to this earning and stock price rose 7.3% to Rs.562.50 with a 2 times rise in volumes.