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Cipla falls after Dec-quarter earnings lag estimates

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Reuters MUMBAI

MUMBAI (Reuters) - Shares in Cipla Ltd fall after company's December quarter profit fell by 16.5 percent to 2.84 billion rupees, lagging some analysts estimates.

Company's operational margins for December-quarter at 18.1 percent were lowest in nearly 11 quarters, weighed down by higher research and development expenditure and staff costs, analysts say.

Cipla shares were trading down nearly 6 percent at 12.05 p.m.

(Reporting by Abhishek Vishnoi; Editing by Sunil Nair)

 

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First Published: Feb 13 2014 | 12:06 PM IST

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