Cipla October-December Net Profit Falls 57% to ₹6.76 Billion on gRevlimid Dip; India Revenue Grows 10%

Cipla Limited reported a consolidated net profit of ₹6.76 billion for the third quarter ended December 31, 2025, a decline of 57.0% from ₹15.71 billion in the corresponding quarter of the previous fiscal year, according to a regulatory filing.

The pharmaceutical major's total income from operations remained flat at ₹70.74 billion compared to ₹70.73 billion in October-December 2024-25, registering a marginal growth of 0.02%. The company attributed the profit decline largely to a "known drop" in sales of the cancer drug gRevlimid in the US market.

Operational Performance
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) stood at ₹12.55 billion, down 36.9% from ₹19.89 billion in the year-ago period. EBITDA margins contracted to 17.7% from 28.1% in October-December 2024-25.

Research and Development (R&D) investments increased by 37.4% year-on-year to ₹4.94 billion, accounting for 7.0% of sales. The company stated this increase was driven by ramped-up product filings and development initiatives.

Segment Review: India
The 'One-India' business recorded revenue of ₹34.57 billion, a 10% increase from ₹31.46 billion in October-December 2024-25. The Branded Prescription business posted double-digit growth, outpacing the market in key therapies including respiratory, urology, cardiac, and anti-diabetes. The share of chronic therapies in the domestic portfolio improved to 62.3%.

Citing IQVIA MAT December 2025 data, the company noted that its brand 'Foracort' ranked as the number one brand in the Indian Pharmaceutical Market (IPM). The Trade Generics business launched eight new products in the quarter, including an entry into the sexual wellness category. In the Consumer Health segment, anchor brands Nicotex, Omnigel, and Cipladine maintained leadership positions in their respective categories, the filing stated.

North America and International Markets
North America revenue stood at $167 million (₹14.85 billion), a 22% decline in rupee terms from ₹19.06 billion in the previous year due to the gRevlimid sales drop. However, the company highlighted that Albuterol retained the number one rank in the US Albuterol MDI market with a 22% share.

The company stated that its 2026-27 pipeline includes four major respiratory launches, including gAdvair. It also plans to launch gVictoza and three additional peptide assets in 2026-27.

Revenues from the 'One Africa' region grew 3% year-on-year to ₹10.01 billion. Within this, the South Africa business contributed ₹7.84 billion, up 2% year-on-year. The South Africa private market business recorded secondary growth of 6.3%, versus market growth of 5.7%. The ‘Emerging Markets and Europe’ segment reported revenue of ₹9.29 billion, rising 13% year-on-year (7% in US dollar terms).

Revenue from Active Pharmaceutical Ingredients (API) increased 15% to ₹1.44 billion, while 'Others' revenue declined 39% to ₹0.59 billion.

As of December 31, 2025, Cipla reported total equity of ₹339.13 billion, up from ₹300.12 billion a year earlier. The net cash position stood at ₹102.29 billion.

Umang Vohra, Managing Director and Global CEO, Cipla Ltd, said: "We are pleased to share that we continue to make considerable progress across our focused markets. In October-December 2025-26, we delivered global revenues of ₹7,074 crore [₹70.74 billion], despite the known drop in gRevlimid sales. Our One-India business grew at a solid 10% YoY."

"Our upcoming launches are expected to cushion gRevlimid revenue decline and provide long-term growth... Going ahead, the focus will be on growing our key markets, further building our flagship brands, investing in future pipeline as well as focusing on resolutions on the regulatory front," Vohra added.