11-04-2022 03:06 PM | Source: Reuters
India`s Cipla beats estimates with 11% rise in quarterly profit
News By Tags | #416 #139 #572 #642 #1302

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel

Indian drugmaker Cipla reported a better-than-expected 11% rise in second-quarter profit on Friday, as revenue from new ventures almost doubles.

Consolidated net profit rose to 7.89 billion Indian rupees ($95.6 million) in the quarter, from 7.11 billion rupees a year ago.

Analysts, on average, expected the company to report a profit of 7.83 billion rupees, according to Refinitiv data.

Cipla's total revenue from operations rose 5% to 57.59 billion rupees. ($1 = 82.5010 Indian rupees)