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Cipla Shares Slump 5% On Disappointing March Quarter
Highlights
Shares of pharma major Cipla on Friday fell as much as 5 per cent to hit new 52-week low of Rs. 480 after the company reported consolidated net loss of Rs. 61.79 crore for the March quarter.
Shares of pharma major Cipla on Friday fell as much as 5 per cent to hit new 52-week low of Rs. 480 after the company reported consolidated net loss of Rs. 61.79 crore for the March quarter.
Cipla yesterday reported narrowing of its consolidated net loss to Rs. 61.79 crore for the fourth quarter ended March 31.
Analysts polled by NDTV Profit on an average expected the company to report net profit of Rs. 333 crore on sales of Rs. 3,796 crore.
The company had posted a net loss of Rs. 92.83 crore for the corresponding period of the previous fiscal, Cipla said in a BSE filing.
Consolidated total income of the company rose to Rs. 3,604.79 crore for the quarter under consideration as against Rs. 3,373.91 crore for the same period a year ago.
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