Shares of Cipla fell 2% during the trading session on Thursday, July 22 after the pharma company announced first quarter results for the fiscal 2027, reporting a 39% drop in net profit.
Cipla shares declined as much as 2.66% to Rs 1377.4 apiece. The scrip was trading 2.45% lower by 12:19 pm, while the benchmark Nifty 50 was down 0.29%.
The drugmaker announced April to June quarter earnings during the trading hours on Thursday. The firm's profit missed estimates, while its operating margin contracted more than expectations.
Cipla's Consolidated net profit dropped 39.2% year on year to Rs 789 crore in the quarter ended June 30 from Rs 1,298 crore in the corresponding period last year. The figure was below the Bloomberg estimate of Rs 840 crore.
Revenue rose 2.3% to Rs 7,119 crore from Rs 6,957 crore a year earlier. This was slightly below the Bloomberg estimate of Rs 7,131 crore.
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