Cipla, one of the major players in the pharmaceutical business in India, recently declared their results for the recently concluded quarter that ran from July to September. In these results, the company reported some positive numbers
Cipla Reports Healthy Numbers
The company performance at Dalal Street, despite these positive numbers, appears to have been subdued. The company shares dipped by over 3 per cent in the day's trade on Thursday, October 30.
In Q2 of FY25, the company reported a net profit of Rs 1,303.53 crore. This was greater than Rs 1,177.64 crore a year ago. This marked a massive 15.2 per cent year-over-year net profit.
Furthermore, the total income attained by the company stood at Rs 7,241.63 crore. This figure is greater than total income of Rs 6,854.13 crore managed by Cipla in the quarter before that (Q1 FY25).
The total segment revenue rose to Rs 7,095.16 crore in Q2, compared to Rs 6,743.28 crore in Q1. The segment revenue from new ventures stood at Rs 23.73 crore, while from pharmaceuticals it stood at Rs 1,780.73 crore.
Cipla Shares in Decline
The Mumbai-based pharma company's performance at Dalal Street, however, was anything but inspiring. The shares of the company that started at Rs 1,440.00 on Wednesday quickly dipped.
The decline even crossed the 3.50 per cent mark before changing course by a bit. However, the shares continued to trade in red. At the time of writing, the company shares dipped by 3.53 per cent or Rs 52.15, taking the overall value to Rs 1,425.40 per piece, lower than its 52-week high of Rs 1,702.05 per share.
It also needs to be noted that the makers of Ciplox 500 have not been having the best month at the equity markets. In the past month of trade, Cipla shares have dropped in value by a significant margin of 13.93 per cent or Rs 230.35.
