Shares of Cipla fell sharply in Friday’s trade after the company reported weak Q3 results, with pressure coming from a steep decline in profitability. As of 1:38 PM IST, Cipla stock was trading 3.02% lower at ₹1,329.00 on the NSE, underperforming the broader market.
Cipla’s consolidated net profit for the December quarter dropped 57% year-on-year to ₹675.8 crore compared with ₹1,570.5 crore in the corresponding quarter last year. Revenue remained largely flat at ₹7,075 crore, marginally higher than ₹7,073 crore reported a year ago, indicating muted top-line growth during the quarter.
Operating performance also weakened significantly. EBITDA declined 36.7% year-on-year to ₹1,255 crore from ₹1,989 crore, while the EBITDA margin compressed sharply to 17.7% from 28.1% in the same period last year.
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