 "Cipla: Declining India sales lead to a Q1 miss")
Cipla in the June quarter bore the brunt of de-stocking because of the goods and services tax (GST). Its domestic sales, the largest contributor to revenue at 40 per cent, declined 13 per cent year-on-year (y-o-y) and, as a result, revenue and profitability fell short of the consensus estimate. Net profit may have beaten expectations but it was largely due to higher other income. Revenue, at Rs 3,525 crore, fell 3 per cent y-o-y, and missed the Bloomberg estimate of Rs 3,886 crore.
There are some silver linings, however. For one, looking at the lumpiness in the past, the
There are some silver linings, however. For one, looking at the lumpiness in the past, the
