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

Global Growth

Global Growth

IMF cuts outlook, warns of stagnation risk in rich nations  Full Article 

Waning Enthusiasm

Waning Enthusiasm

Markets' post-election enthusiasm lost on consumers.  Full Article 

Monsoon Revives

Monsoon Revives

Monsoon revival keeps rain above average   Full Article 

Banking Sector

Banking Sector

Banks not allowed to trade in bonds for infra lending - RBI.  Full Article 

Just Not Enough

Just Not Enough

Amazon's smartphone fails to kindle a "Fire" among reviewers.  Full Article 

Rising Market Value

Rising Market Value

Facebook goes express to mega-cap status  Full Article 

Reuters India Mobile

Reuters India Mobile

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