Cipla Q4 net profit down 3 percent on higher costs

MUMBAI Thu May 29, 2014 6:52pm IST

Related Topics

Stocks

   

MUMBAI (Reuters) - Drugmaker Cipla Ltd (CIPL.NS) on Thursday reported a 3 percent drop in fourth-quarter net profit, slightly below analysts' estimates due to higher raw material and employee expenses.

The company, among the world's largest suppliers of HIV/AIDS medicines, said January-March net profit was 2.61 billion rupees ($44.33 million), compared with 2.68 billion rupees a year earlier. Analysts on average expected 2.76 billion rupees, according to Thomson Reuters data.

Net sales rose about 15 percent to 21.94 billion rupees, while total expenses shot up 35 percent.

Cipla, one of the largest pharmaceutical companies in India, gets more than half its revenue through exports to nearly 180 overseas markets, including Africa, Latin America and the United States.

Shares of the company, down 6.4 percent so far this year, closed down 2 percent on Thursday, in line with the Nifty.($1 = 58.8750 rupees)

(Reporting by Zeba Siddiqui in Mumbai; Editing by Subhranshu Sahu)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Quarterly Results

Quarterly Results

HDFC Bank net profit up 20 percent, lags estimates.  Full Article 

China Economy

China Economy

China's growth slowest since global crisis, annual target at risk  Full Article 

Coal Reforms

Coal Reforms

Factbox - India pushes ahead with coal reforms  Full Article 

Apple Result

Apple Result

Apple's iPhone sales beat Street but iPad volumes slide  Full Article 

Airport Accident

Airport Accident

Total CEO de Margerie killed in Moscow plane accident - airport spokeswoman.  Full Article 

Nadella's Paycheck

Nadella's Paycheck

New Microsoft CEO Nadella's pay tops $80 mln with big stock awards.  Full Article 

Deregulation Impact

Deregulation Impact

Private fuel retailers to dip toe, not dive back, into India  Full Article 

JLR China

JLR China

JLR sees 20 percent growth in China sales this year - exec  Full Article 

An RBI First

An RBI First

RBI releases minutes of financial stability council's Aug meet  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage