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Cipla first-quarter profit rises 20 percent, beats estimates


REUTERS - Cipla Ltd, India's fourth-largest drugmaker by sales, reported a 20 percent rise in quarterly profit, beating analysts' estimates, as higher sales in Europe and South Africa offset weakness in its key domestic market.Revenue from South Africa, Cipla's third largest market, rose 21 percent to 4.88 billion rupees ($76.03 million) compared with last year while Europe revenues climbed 33 percent to 1.58 billion rupees. India revenues fell 13 percent to 12.71 billion rupees, impacted by a nationwide tax reform. Cipla's Chief Executive Umang Vohra said on Friday the company is working on ...

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First Published: Fri, August 11 2017. 14:24 IST