Cipla Shares Surge Over 6% On Strong Q1 Earnings

Shares of drug major Cipla today rose over 6 per cent after the company reported 23.63 per cent rise in consolidated net profit for the first quarter ended June 30.

After opening the trade on a positive note, the stock further gained 6 per cent to Rs. 575.40 on BSE. At NSE, shares of the company jumped 6.39 per cent to Rs. 576.

Cipla on Friday reported a 23.63 per cent rise in consolidated net profit to Rs. 424.92 crore for the first quarter ended June 30.

The company had posted a net profit of Rs. 343.70 crore for the corresponding period of the previous fiscal, Cipla said in a BSE filing.

Consolidated total income from operations stood at Rs. 3,525.05 crore for the quarter under consideration as against Rs. 3,650.03 crore for the same period a year ago.