Shares of Cipla surged over 7 per cent today even after the company reported a 34.74 per cent fall in consolidated net profit for the second quarter ended September 30, 2016.
The stock soared 6.98 per cent to Rs 565 on BSE.
On NSE, shares of the company jumped 7.35 per cent to Rs 565.
"Cipla reported in line results on both revenue as well as PAT front," Kotak Securities said in a note.
Drug major Cipla yesterday reported a 34.74 per cent slide in consolidated net profit to Rs 354.34 crore for the second quarter ended September 2016, mainly on account of increase in expenditure.
The company had posted a net profit after taxes, minority interest and share of profit/loss of the associates of Rs 543.02 crore for the same period a year ago, Cipla had said in a filing to BSE.
Consolidated total income from operations, however, rose to Rs 3,751.02 crore for the quarter under review as against Rs 3,455.09 crore a year earlier.
Disclaimer: No Business Standard Journalist was involved in creation of this content
