Cipla Shares Surge to Record High on Q3 Earnings

Cipla Shares Surge to Record High on Q3 Earnings

VoM News Desk | January 23, 2024 | 10:09 AM IST | Breaking News | Follow on Google News

Cipla Shares Surge to Record High on Q3 Earnings

Cipla Shares Surge to Record High on Q3 Earnings

Cipla, a leading pharmaceutical company in India, witnessed a 7% surge in its shares, reaching a new all-time high of ₹1,409 apiece in early trading on Tuesday.

This uptick follows the announcement of better-than-expected Q3FY24 earnings.

The company reported a significant 32.7% year-on-year increase in its consolidated net profit, reaching ₹1,056 crore.

The robust growth was attributed to strong performance across various geographies.

While Cipla’s total revenue from operations for Q3 FY24 experienced a marginal dip at ₹6,603 crore compared to ₹6,678 crore in the previous quarter (Q2 FY24), it marked a noteworthy 13.66% increase from ₹5,810.09 crore in the corresponding period a year ago.

VoM News Desk

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