The pharmaceutical company reported a consolidated net profit of Rs 1,571 crore for the quarter ending in December. This exceeded the Bloomberg-tracked analysts’ consensus estimate of Rs 1,208 crore.
The company’s revenue rose by 7.1% year-on-year to Rs 7,073 crore. Additionally, the earnings before interest, taxes, depreciation, and amortisation increased by 13.8% to Rs 1,989 crore, with the margins expanding to 28.1% from 26.5%.
Shares of Cipla on Monday closed 1.32% lower at Rs 1,420.55 apiece on the NSE, compared to a 0.52% fall in the benchmark Nifty 50 index. The stock has fallen 0.93% in the last 12 months.
Out of 37 analysts tracking the company, 24 maintain a ‘buy’ rating on the stock, eight recommend ‘hold’ and five suggest ‘sell’, according to Bloomberg data. The average of 12-month analysts’ price target implies a potential upside of 16.2%.
