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India's Cipla Q3 net up 25.5 pct
February 6, 2013 / 11:32 AM / 5 years ago

India's Cipla Q3 net up 25.5 pct

MUMBAI, Feb 6 (Reuters) - Cipla Ltd, India’s fifth largest drugmaker by sales, reported a 25.5 percent rise in quarterly profit on robust sales but slightly missed street estimates as taxes surged.

The Mumbai-based drugmaker said, net profit grew to 3.39 billion rupees ($63.81 million) in October-December from 2.7 billion rupees a year earlier. Analysts on an average had expected a net profit of 3.48 billion rupees, according to Thomson Reuters I/B/E/S.

Sales rose 18.65 percent to 20.3 billion rupees, it said.

Shares in Cipla fell 0.56 percent to 405 rupees on Wednesday when the Mumbai market closed down 0.1 percent. ($1 = 53.12 rupees) (Reporting by Kaustubh Kulkarni; Editing by Anand Basu)

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