Wednesday, 7 February 2018

Financial results:Cipla Q3 profit rises about 7% to Rs401 crore

 Cipla Ltd, India’s fourth-largest drugmaker by revenue, said third-quarter net profit rose 7% on strong domestic sales, but fell short of analysts’ estimates.

Net profit attributable to shareholders climbed to Rs401 crore ($62.54 million) in the quarter ended on 31 December, from Rs375 crore a year earlier.
That compared with an average estimate of Rs444 crore in profit drawn from 18 analysts polled by Thomson Reuters I/B/E/S.
Including a one-off positive impact of Rs107 crore due to recalculation of deferred tax assets and liabilities on account of the tax reforms in the United States, profit rose about 25% from a year earlier, the company said.
Revenue from India, its biggest market, rose 15% to Rs1,601 crore. Domestic revenue accounted for more than a third of the total revenue, which rose 7% to Rs3,914 crore