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India's Cipla Q3 profit up 43.7 pct, tops estimates
February 8, 2017 / 11:35 AM / 9 months ago

India's Cipla Q3 profit up 43.7 pct, tops estimates

MUMBAI, Feb 8 (Reuters) - Indian drugmaker Cipla Ltd reported a 43.7 percent jump in third-quarter net profit, beating analysts’ expectations.

Net profit for the October-December quarter rose to 3.75 billion rupees ($55.79 million) from 2.61 billion a year earlier.

That beat the 3.70 billion rupees forecast by 23 analysts on average, data from Thomson Reuters I/B/E/S showed.

India’s fifth-largest drugmaker by sales derives most of its revenue from its home market, but is building its presence in markets such as the United States and the UK, where during the third quarter it launched the Seroflo inhaler, used for the treatment of asthma.

$1 = 67.2150 Indian rupees Reporting by Zeba Siddiqui; editing by Swati Bhat and Jason Neely

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