Business Standard

Tuesday, December 24, 2024 | 07:38 PM ISTEN Hindi

Notification Icon
userprofile IconSearch

Improving US outlook, margin gains keep Street positive on Cipla stock

Lower depreciation led to a 45 per cent increase in adjusted net profit and the same was 25-35 per cent higher than what the street had estimated

Between December 2020 and February 2021, traders were supposed to maintain at least 25 per cent of the peak margin
Premium

Ram Prasad Sahu

Listen to This Article

A better than expected performance for the June quarter of the 2023-24 financial year (FY24), robust outlook for the North American market and higher margin guidance led to a 9.6 per cent jump in the stock prices of Cipla on Thursday. Brokerages have also upgraded the earnings estimates of the third largest pharma player -- by market capitalization -- by up to 8 per cent.
 
Q1FY24 results beat estimates as revenue grew 17 per cent year-on-year (YoY) on the back of growth in India and US markets. Margins at the gross and operating levels were higher by 230 basis

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in