Cipla Falls 5% Despite Strong Q1

Cipla shares reversed early gains to fall nearly 5 per cent on Monday. The pharma company on Friday post market hours announced its quarterly earnings, which were above the Street's expectations. Analysts attributed the fall in share prices to profit-taking. Cipla's net profit more than doubled in the June quarter to Rs 650.6 crore, led by a strong jump in its operating income. Cipla's EBITDA or operating income rose to Rs 963 cro...