Cipla shares jump over 9 pc after Q1 earnings

Shares of drug firm Cipla on Monday closed over 9 per cent higher after the company reported a 26.58 per cent rise in consolidated net profit for the quarter ended June.

Shares of drug firm Cipla on Monday closed over 9 per cent higher after the company reported a 26.58 per cent rise in consolidated net profit for the quarter ended June. The company's stock closed 9.20 per cent higher at Rs 795.65 on the BSE. During the day, it zoomed 11.78 per cent to Rs 814.45, its 52-week high.

The scrip rose sharply by 9.47 per cent to close at Rs 797.70 on the NSE. In terms of volume, 18.53 lakh shares were traded on the BSE during the day, while 5.68 crore shares changed hands on the NSE.

The drug firm on Friday reported a 26.58 per cent rise in consolidated net profit to Rs 566.04 crore for the quarter ended June on the back of robust sales. The company had posted a net profit of Rs 447.15 crore in the corresponding period of the previous fiscal, Cipla said in a BSE filing.

Total revenue from operations for the quarter under consideration stood at Rs 4,346.16 crore. It was at Rs 3,989.02 crore in the same period a year ago, it added. "During the quarter, our businesses actively re-imagined their operating models to drive strong growth across markets of India, South Africa, the US and focused execution on cost optimization helped drive the quarter EBITDA to 24 per cent," Cipla MD and Global CEO Umang Vohra said.

The company is also at the forefront in combating COVID-19 through its strategic partnerships and a spectrum of offerings in its portfolio, he added..

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