February 11, 2013 / 4:13 AM / 5 years ago

Cadila falls on earnings, broker downgrades

A pharmacist counts pills in a pharmacy in Toronto in this January 31, 2008 file photo.Mark Blinch/Files

MUMBAI (Reuters) - Cadila Healthcare (CADI.NS) shares fell as much as 8.9 percent after October-December earnings disappointed on Friday, followed by broker downgrades.

Cadila said its December quarter net profit fell by 30.9 percent to 1.03 billion rupees.

Credit Suisse downgraded the stock to "neutral" from "outperform", citing delay in contribution from higher margin products.

Reporting by Abhishek Vishnoi; Editing by Jijo Jacob

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