India`s Cipla beats estimates with 11% rise in quarterly profit

4/11/2022 3:06:35 PM | Source: Reuters

India`s Cipla beats estimates with 11% rise in quarterly profit

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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)

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India`s Cipla beats estimates with 11% rise in quarterly profit

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