Cipla dropped 3.7% to Rs 485.45 at 9:45 IST on BSE after the company reported consolidated net loss of Rs 61.79 crore in Q4 March 2017 compared with loss of Rs 92.83 crore in Q4 March 2016.
The result was announced after market hours yesterday, 25 May 2017.Meanwhile, the S&P BSE Sensex was up 107.49 points, or 0.35%, to 30,857.52.
The stock has dropped 13.84% in five sessions to ruling price of Rs 485.45 from a close of Rs 563.45 on 19 May 2017.
On the BSE, 2.93 lakh shares were traded in the counter so far, compared with average daily volumes of 2.16 lakh shares in the past one quarter. The stock had hit a high of Rs 504.15 and a low of Rs 479 so far during the day.
The stock had hit a 52-week high of Rs 621.90 on 6 February 2017. The stock had hit a 52-week low of Rs 458.25 on 25 May 2016. The stock had underperformed the market over the past one month till 25 May 2017, dropping 8.82% compared with 2.69% rise in the Sensex. The scrip had also underperformed the market in past one quarter, declining 14.79% as against Sensex's 6.43% rise.
The large-cap pharmaceutical company has equity capital of Rs 160.91 crore. Face value per share is Rs 2.
Cipla's revenues rose 8% to Rs 3582 crore in Q4 March 2017 over Q4 March 2016.
Cipla's board of directors recommended dividend of Rs 2 per share for the year ended 31 March 2017 (FY 2017).
Commenting on the results, Umang Vohra, MD and Global CEO, Cipla said, the company has achieved significant progress on identified key priorities and strengthened core business through consolidation, complexity reduction and deepening presence in priority markets. The quarterly results are off the mark due to a tough operating environment and certain one-offs, he added.
The results for Q4 March 2017 include one-off charges related to impairment of a part of intangibles from US acquisition and a provision for loss on certain assets of subsidiary, Cipla BioTec Pvt. Ltd.
Cipla is a global pharmaceutical company.
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