Advertisement

  • News
  • Columns
  • Interviews
  • BW Communities
  • Events
  • BW TV
  • Subscribe to Print
BW Businessworld

Cipla Q2 Profit Falls As Europe, Emerging Markets Suffer

Sales in India, Cipla's biggest market, rose 21 per cent in the quarter, the company said in a statement

Photo Credit :

1478691169_7G2eBR_Cipla_Reception_Reu.jpg

Cipla Ltd, India's fifth-largest drugmaker by sales, on Wednesday reported a 35 percent fall in quarterly profit, missing analysts' estimates, mainly due to lower sales in the emerging markets and Europe.

Net profit in the July-September quarter was 3.54 billion rupees ($53.3 million), down from 5.43 billion rupees during the same period a year earlier. That compared with the average estimate of 3.92 billion rupees from analysts in a Thomson Reuters I/B/E/S poll.

Sales in India, Cipla's biggest market, rose 21 percent in the quarter, the company said in a statement.

North America, where Cipla has been working on building up its presence, contributed 18 percent to sales in the second-quarter. Sales from the region rose 38 percent.

Those rises could not offset a 27 percent fall in Europe sales, and a 1 percent fall in emerging markets, which are Cipla's second-largest contributor to sales.

(Reuters)


Tags assigned to this article:
pharmaceuticals cipla company results
sentifi.com

Top themes and market attention on: