Cipla shares rally nearly 8% after Q3 earnings results

Shares of Cipla on Tuesday rallied nearly 8 per cent in the mid-session trading a day after the company reported a 32.25 per cent rise in its profit to ₹1,068.41 crore in the third quarter.

The company’s shares jumped 7.73 per cent to trade at ₹1,414 apiece on the BSE.

On the NSE, the scrip of Cipla climbed 7.47 per cent at 1,414.60 per piece.

In the mid-trading session on January 23, the 30-share BSE Sensex declined 708.90 points or 0.99 per cent lower trading at 70,714.75, while NSE Nifty slumped 1.05 per cent to trade at 21,344.40 points.

In a regulatory filing on January 22, pharmaceuticals firm Cipla Ltd reported a 32.25 per cent rise in consolidated profit to ₹1,068.41 crore in the third quarter ended December 2023.

The company had posted a consolidated profit of ₹807.83 crore in the year-ago period. Its consolidated revenue from operations in the quarter under review was ₹6,603.81 crore, up 13.66 per cent, the company said.

It was ₹5,810.09 crore in the corresponding period a year ago.

In the December quarter, its total expenses were 8.78 per cent higher at ₹5,119.81 crore as against ₹4,706.47 crore in the October-December quarter last fiscal.

Total income of Cipla in the third quarter stood at ₹6.788.44 crore, up 14.58 per cent. During the quarter, its revenue from pharmaceuticals was ₹6,365.06 crore, and from new ventures was ₹280.51 crore.