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Cipla posts 11% YoY drop in Q2 profit at Rs 377 crore, misses Street estimates

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ETMarkets.com|Updated: Nov 05, 2018, 12.52 PM ISTThe company had reported Rs 422.39 crore profit in the same quarter last year.NEW DELHI: Drug maker Cipla on Monday reported a 10.78 per cent year-on-year (YoY) drop in consolidated net profit at Rs 377.05 crore for the September quarter, falling short of Rs 450 crore estimate projected by analysts in an ET Now poll.

The company had reported Rs 422.39 crore profit in the same quarter last year. Consolidated sales for the quarter fell 1.01 per cent YoY to Rs 3,947.93 crore from Rs 3,988.24 crore in the corresponding quarter last year.

ET Now poll had forecast sales at Rs 4270 crore.

Ebitda for the quarter at Rs 701 crore too was lower than ET Now poll estimate of Rs 830 crore.

Ebitda in the year-ago quarter stood at Rs 784 crore. Margins for the quarter fell to 17.5 per cent from 19.2 per cent in the year-ago quarter. Commenting feature is disabled in your country/region.From Around The WebMore from The TheIndianSubcontinent




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