Pharmaceutical company Cipla has reported a growth
of 36.45% year-on-year and 8.15% quarter-on-quarter in its net profit of Rs 292
crore for the fourth quarter of FY12.
Net sales of the drug maker increased 8.7% YoY and 3.2% QoQ
to Rs 1,814 crore for the January-March quarter.
Analysts on average had expected net profit at Rs 295 crore
and net sales at Rs 1,833 crore.
Recently the company cut prices of 3 cancer drugs by 75% in
the domestic market. "We will lower price of six more drugs very
soon," Cipla said.
The stock gained 0.91% to close at Rs 325.55 on Thursday
after hitting an intraday high of Rs 331 and low of Rs 321.05.
In the last week, foreign research firm CLSA upgraded Cipla
to outperform with a target price of Rs 360.
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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