Cipla Ltd. reported a profit in the quarter ended March, but missed analyst estimates.
The drugmaker earned a profit of Rs 179 crore in the quarter-ended March, according to its exchange filing. That's much lower than Rs 438 crore estimated by analysts Bloomberg tracks. In the year-ago period, the company had incurred a loss of Rs 62 crore due to a one-time impairment cost on intangibles from a U.S. acquisition.
Revenue rose 3 percent year-on-year to Rs 3,698 crore, missing Bloomberg estimates of Rs 4,003 crore.
On the operational front, earnings before interest, tax, depreciation and amortisation rose 10 percent to Rs 557 crore, substantially below the Rs 830 crore forecast. Ebitda margin expanded 100 basis points to 15.1 percent.
Other Highlights
- The company will pay a dividend of Rs 3 per share.
- Board approves raising up to Rs 2,000 crore via NCDs and up to Rs 2,000 crore via ADR, equity issue.
Shares of Cipla rose as much as 0.68 percent to Rs 524 apiece ahead of the earnings announcement.
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