Cipla back in black, posts Q4 profit of Rs179 crore but misses estimates
Cipla’s Q4 profit came in at Rs179 crore for Q4, compared with a loss of Rs61.79 crore in the year-ago quarter
Bengaluru: Cipla Ltd, India’s second-biggest drugmaker by market capitalization, posted a Q4 profit on Tuesday, but missed analysts’ estimates.
Net profit came in at Rs179 crore for the March quarter ended 31 March, compared with a loss of Rs61.79 crore in the year-ago quarter, the company said. Analysts, on average, had expected a profit of Rs357 crore, according to Thomson Reuters data.
On Tuesday, Cipla shares rose 0.88%, or Rs4.55, to Rs524.35 on BSE while the benchmark Sensex ended 0.10% higher at 34,651.24 points.