Cipla shares rally nearly 8% after Q3 earnings results

New Delhi: Shares of Cipla on Tuesday rallied nearly 8 per cent in the mid-session trading a day after the company reported a 32.25 per cent rise in its profit to Rs 1,068.41 crore in the third quarter.

The company's shares jumped 7.73 per cent to trade at Rs 1,414 apiece on the BSE.

On the NSE, the scrip of Cipla climbed 7.47 per cent at Rs 1,414.60 per piece.

In the mid-trading session on Tuesday, the 30-share BSE Sensex declined 708.90 points or 0.99 per cent lower trading at 70,714.75, while NSE Nifty slumped 1.05 per cent to trade at 21,344.40 points.

In a regulatory filing on Monday, pharmaceuticals firm Cipla Ltd reported a 32.25 per cent rise in consolidated profit to Rs 1,068.41 crore in the third quarter ended December 2023.

The company had posted a consolidated profit of Rs 807.83 crore in the year-ago period. Its consolidated revenue from operations in the quarter under review was Rs 6,603.81 crore, up 13.66 per cent, the company said.

It was Rs 5,810.09 crore in the corresponding period a year ago.

In the December quarter, its total expenses were 8.78 per cent higher at Rs 5,119.81 crore as against Rs 4,706.47 crore in the October-December quarter last fiscal.

Total income of Cipla in the third quarter stood at Rs 6.788.44 crore, up 14.58 per cent. During the quarter, its revenue from pharmaceuticals was Rs 6,365.06 crore, and from new ventures was Rs 280.51 crore.