Cipla rises 3% even as profit sees 17% dip in Q3

Cipla reported a drop of 17 percent (year on year) in its profit for the December quarter at Rs 332.2 crore against Rs 400.5 crore posted last year.

Cipla’s shares rose over 3 percent on Thursday morning even as the company saw a drop of 17 percent in its Q3 profit/

The stock touched an intraday high of Rs 546.00 and an intraday low of Rs 536.00.

Cipla reported a drop of 17 percent (year on year) in its profit for the December quarter at Rs 332.2 crore against Rs 400.5 crore posted last year.

The company’s consolidated revenue rose over 2 percent at Rs 4,077.5 crore against Rs 3,914 crore in Q3FY19.

At an operating level, the company’s EBITDA fell 14 percent at Rs 707.7 crore, against Rs 818.7 crore last year.

The operating margin was reported at 18 percent against 20.9 percent last year.

The company posted a tax expense of Rs 125.7 crore against a tax write back of Rs 64.2 crore.

At 09:29 hrs Cipla was quoting at Rs 541.00, up Rs 13.05, or 2.47 percent, on the BSE.

With inputs from PTI

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