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Cipla: Declining India sales lead to a Q1 miss

Margin improvement a silver lining, if sustained, can boost confidence

Ujjval Jauhari  |  Mumbai 

Cipla in the June quarter bore the brunt of de-stocking because of the goods and services tax (GST). Its domestic sales, the largest contributor to revenue at 40 per cent, declined 13 per cent year-on-year (y-o-y) and, as a result, revenue and profitability fell short of the consensus estimate. Net profit may have beaten expectations but it was largely due to higher other income. Revenue, at Rs 3,525 crore, fell 3 per cent y-o-y, and missed the Bloomberg estimate of Rs 3,886 crore.   There are some silver linings, however. For one, looking at the lumpiness in the past, the ...

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First Published: Sat, August 12 2017. 03:03 IST
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