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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

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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