Cipla net up 4.7% in Q3

Drug major Cipla on Wednesday reported a consolidated net profit of Rs 403 crore for the third quarter of fiscal 2017-18, registering a 4.7 per cent annual net profit growth from Rs 385 crore in the same period a year ago.

In a regulatory filing on the BSE, the city-based drug maker said consolidated net sales for the quarter under review (Q3) increased 7.6 per cent annually to Rs 3,835 crore from Rs 3,564 crore in the like period a year ago.

Sequentially, net profit declined 7.4 per cent from Rs 435 crore a quarter ago and net sales dipped 3.8 per cent from Rs 3,988 crore a quarter ago.

On a standalone basis, the parent company's net income grew 23 per cent annually to Rs 419 crore in Q3 from Rs 341 crore in the same period a year ago, but declined 26 per cent sequentially from Rs 566 crore a quarter ago.

Similarly, standalone income from sales grew annually to 11.7 per cent to Rs 2,892 crore in Q3 but declined 28 per cent sequentially from Rs 2,976 crore.

The company's blue-chip scrip of Rs 2 face value ended on the BSE at Rs 569.15, gaining Rs 3.50 per share from Tuesday's closing price of Rs 565.65 and opening of 582.75 and remained high at the same price after a low of 554.60 per share.

--IANS

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