Cipla in pink of health after turnaround Q4 outcome

Cipla surged 4.41% to Rs 547.50 at 9:31 IST on BSE after the company reported consolidated net profit of Rs 153.25 crore in Q4 March 2018 as compared with net loss of Rs 62.79 crore in Q4 March 2017.

The result was announced after market hours yesterday, 22 May 2018.

Meanwhile, the S&P BSE Sensex was down 40.82 points or 0.12% at 34,610.42.

On the BSE, 1.99 lakh shares were traded on the counter so far as against average daily volumes of 1.41 lakh shares in the past two weeks. The stock had hit a high of Rs 562.50 and a low of Rs 519.75 so far during the day. The stock had hit a 52-week high of Rs 663 on 7 November 2017. The stock had hit a 52-week low of Rs 479 on 26 May 2017.

Cipla's consolidated total income rose 3.69% to Rs 3737.98 crore in Q4 March 2018 over Q4 March 2017.

The board of directors of the company approved raising funds upto Rs 2000 crore by issue of equity shares or American depository receipts or global depository receipts or foreign currency convertible bonds or other securities /financial instruments, whether denominated in Indian Rupee and/or foreign currency(ies), though a public issue or a private placement.

The board of directors of the company also approved raising funds upto Rs 2000 crore by issue of non-convertible debentures (in form of bonds or otherwise) or bonds, whether denominated in Indian Rupee and/or foreign currency(ies), though a public issue or a private placement.

Umang Vohra, MD and Global CEO, Cipla said that in this financial year, the company's focus remained on strengthening our portfolio and deepening presence in priority markets. The company's focus for next year will be to continue growth trajectory in key markets and investments in portfolio for sustainable growth.

Cipla is a global pharmaceutical company. Its portfolio includes over 1500 products across wide range of therapeutic categories.

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