Cipla stock down over 4.5% despite strong Q1 results

17 August 2015

Shares in India-based pharma company Cipla (BOM: 500087) dropped over 4.5% on the Bombay Stock Exchange even as the company more than doubled profit for the first-quarter fiscal year 2016, ended June 30.

The company reported pretax profit of 6.51 billion rupees ($99.7 million), up over 120% compared with a year ago. Income from operations grew by 41.6% to 38.5 billion rupees year on year.

Domestic sales were up 8.4% in the first quarter driven by growth in respiratory, anti-infectives, cardiac and gastro intestinal therapies.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK