Cipla shares down 1.5% on disappointing Q1 earnings

Shares of pharma major Cipla today fell by 1.5 per cent after the company reported 43.19 per cent decline in consolidated net profit for the quarter ended June 30.
The scrip went down by 1.26 per cent to settle at Rs 516.65 on BSE. During the day, it declined 2.13 per cent to Rs 512.10.
On NSE, shares of the company lost 1.52 per cent to end at Rs 515.95.
Cipla today reported 43.19 per cent decline in consolidated net profit to Rs 365.24 crore for the quarter ended June 30.
The group had posted a net profit of Rs 649.22 crore for the corresponding period of the previous fiscal, Cipla said in a filing to BSE.

Consolidated total income from the operations also declined to Rs 3,593.72 crore for the quarter under consideration as against Rs 3,838.45 crore for the same period a year ago.