Pharma major Cipla reported Q2 net profit of ₹1,351 crore, up 4% year-on-year, alongside an 8% increase in revenue, supported by stable US generics, domestic branded formulations, and respiratory portfolio momentum. Operating leverage and cost control offset pricing pressure in select categories. R&D spend remained aligned to pipeline priorities, including complex inhalation and specialty launches. Management reiterated guidance for balanced growth and margin discipline. Street takeaways focused on US approvals cadence, India market share, and export normalization as determinants of earnings trajectory into the next fiscal.