Cipla dips 4% on lower than expected March quarter earnings

The company's performance in Q4FY21 was weighed by moderate YoY growth in India Domestic Formulation (DF)/South Africa and decline in API sales for the quarter

Shares of Cipla were down 4 per cent at Rs 870 on the BSE in intra-day trade on Monday after the company reported lower than expected March quarter earnings (Q4FY21), with total revenue from operations growing 5 per cent to Rs 4,606 crore as against Rs 4,376 crore in the year-ago quarter. The company’s performance in Q4FY21 was weighed down by moderate year-on-year (YoY) growth in India Domestic Formulation (DF)/South Africa and a decline in API sales for the quarter.

Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 22 per cent YoY to Rs 796 crore from Rs 652 crore