Cipla surges 6% after stellar Q1 on healthy operating performance

Cipla was the largest gainer among Sensex and Nifty50 stocks at 11:01 am

Cipla surged 6% to Rs 575 on BSE after the company recorded EBITDA (earnings before interest, taxation, depreciation and amortization) margin expansion rose 160 bps to 18.3% in June quarter (Q1FY18), driven by strong focus on enhancing operational efficiency and control on spends.

“The company reported quarterly revenues of Rs 3,525 crore, with an EBITDA margin of around 18.3%, an increase of 6% on year-on-year (y-o-y) basis driven by significant gross margin improvement and controlled spends despite impact of Goods & Service Tax (GST) led disruption to the India business,” Cipla said in a press release.

The consolidated