Cipla outperformed street expectations in June (Q1FY22) quarter posting its highest ever quarterly revenues. Its operating performance too were better than than street expectations aided by Covid portfolio and one off gains in the active pharmaceutical ingredient business.
The Cipla management believes that the sales momentum will continue in the current financial year with the overall domestic pharma market (excluding Covid sales) expected to grow at 10-12 per cent. The company aims to outperform its domestic peers in FY22.
Despite a strong operating performance and outlook, the stock has shed 3.7 per cent on Friday. While most brokerages have raised