February 18, 2024
Cipla Shares Surge to Record High on Q3 Earnings
Finance Stock Markets

Cipla Shares Surge to Record High on Q3 Earnings

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.

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