New Delhi, Nov 5 (PTI) Pharma major Cipla Monday reported a 15.64 per cent fall in its consolidated net profit to Rs 366.91 crore for the second quarter ended September 30, 2018.
The company had posted a net profit of Rs 434.95 crore for the corresponding period of the previous fiscal, Cipla said in a BSE filing.
Consolidated total revenue from operations of the company stood at Rs 4,011.90 crore for the quarter under consideration. It was Rs 4,082.41 crore for the same period a year ago.
“We had a modest quarter but maintained a strong performance in our private market segment across geographies.
I am pleased to see that our limited competition assets in the US are ramping up to drive quarter on quarter growth,” Cipla MD and Global CEO Umang Vohra said.
The company also recently announced the approval of Metoprolol, another limited competition asset, he added.
“As we enter the second half of this fiscal, multiple headwinds are likely to impact our reported performance. Having said that, we are focusing on positioning our businesses for long term growth,” Vohra added.
Shares of Cipla were Monday trading at Rs 566.10 on the BSE, down by 6.97 per cent from their previous close.
The post Cipla Q2 net profit falls 16 pc to Rs 367 cr appeared first on OWLT Market.
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