MUMBAI Aug 14 Cipla Ltd, India's
fourth-largest drugmaker by sales, on Thursday reported
first-quarter profit that was much lower than expectations due
to higher employee costs and other expenses.
Cipla's April-June net profit fell to 2.95 billion
rupees($48.6 million) from 4.85 billion rupees a year earlier.
Analysts on average expected a profit of 3.65 billion
rupees, according to data compiled by Thomson Reuters.
Net sales rose 14 percent to 26.47 billion rupees.
($1 = 61.76 rupees)
(Reporting by Zeba Siddiqui in Mumbai; Editing by Prateek