BackCipla profit drops 6% in March quarter
Revenue grew 27% to ₹2520 crore from the year-ago quarter's ₹1979 crore
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Mumbai: Drugmaker Cipla Ltd said on Thursday net profit declined 6% to ₹ 261 crore in the March quarter as against ₹ 276 crore a year ago. Revenue grew 27% to ₹ 2520 crore from the year-ago quarter’s ₹ 1979 crore. Other income, especially from technology transfer fees, pushed up revenue, but other expenses and an increase in material as well as employee costs impacted profit.
Domestic sales grew by 19.3% to ₹ 908 crore during the quarter, up from ₹ 761 crore a year ago. The growth in domestic sales was largely on account of respiratory, anti-infective and cardiac therapies.
Cipla shares dropped 1.8% to Rs372.95 on Thursday on BSE, while the exchange’s benchmark Sensex lost 1.31% to 24,234.15 points and the BSE Healthcare Index gained 0.02% to 10,055.15 points.
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