The pharmaceutical company Cipla announced on Wednesday that their consolidated net profit had increased by 7 percent to reach a total of Rs 808 crore for the quarter ending December 2022. This growth was attributed to strong sales during this period.
In the previous fiscal year, the company which is based in Mumbai had reported a net profit of Rs 757 crore for the quarter ending December.
As per the regulatory filing, Cipla reported that its total revenue from operations had risen to Rs 5,810 crore for the third quarter of the current fiscal year, as compared to Rs 5,479 crore in the same period of the previous year.
The company has reported a growth in net profit for the nine months ending December 31, 2022, with a net profit of Rs 2,311 crore compared to Rs 2,176 crore in the same period the previous year. This indicates a positive financial performance for the company over the past nine months. However, despite this increase in net profit, the company’s shares on the BSE have seen a decline in value. As of the current trading session, the shares were being traded at Rs 1,032.50 per share, which represents a decrease of 2.73%.
This could be due to a variety of factors such as market conditions, investor sentiment or internal developments within the company. It is worth noting that this report is for the nine months ending December 31, 2022, so it does not represent the full year and the company’s performance for the full year might be different.