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Improving US outlook, margin gains keep Street positive on Cipla stock

Lower depreciation led to a 45 per cent increase in adjusted net profit and the same was 25-35 per cent higher than what the street had estimated

Between December 2020 and February 2021, traders were supposed to maintain at least 25 per cent of the peak margin
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Ram Prasad Sahu

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A better than expected performance for the June quarter of the 2023-24 financial year (FY24), robust outlook for the North American market and higher margin guidance led to a 9.6 per cent jump in the stock prices of Cipla on Thursday. Brokerages have also upgraded the earnings estimates of the third largest pharma player -- by market capitalization -- by up to 8 per cent.
 
Q1FY24 results beat estimates as revenue grew 17 per cent year-on-year (YoY) on the back of growth in India and US markets. Margins at the gross and operating levels were higher by 230 basis

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First Published: Jul 27 2023 | 10:16 PM IST

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