Cipla Ltd.'s operating performance surpassed analyst estimates for the September ended quarter as margins expanded more than expected.
Net profit rose 19 percent year-on-year to Rs 423 crore, according to the company's exchange filing. This met the Rs 422 crore estimated by analysts tracked by Bloomberg.
Revenue increased 9 percent to Rs 4,082 crore, also matching the estimated Rs 4,015 crore. This was aided by a four-fold rise in other income to Rs 113 crore, but partially offset by higher tax expenses.
Ebitda margins expanded 160 basis points to 19.7 percent, indicating improved operational performance. This was much higher than the 18.8 percent forecast. Earnings before interest, tax, depreciation and amortisation in absolute terms rose 18 percent to Rs 804 crore.
Shares of Cipla dropped as much as 8.2 percent to Rs 601 after the results were announced.
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