India revenue swells 15 per cent to Rs 16 bn
Cipla said third-quarter net profit rose 7 per cent on strong domestic sales, but fell short of analysts’ estimates.
Net profit attributable to shareholders climbed to Rs 4.01 billion ($62.54 million) in the quarter ended Dec. 31, from Rs 3.75 billion a year earlier.
Including a one-off positive impact of Rs 1.07 billion due to recalculation of deferred tax assets and liabilities on account of the tax reforms in the US, profit rose about 25 per cent from a year earlier, the company said.
Revenue from India, its biggest market, rose 15 per cent to Rs 16.01 billion.
Domestic revenue accounted for more than a third of the total revenue, which rose 7 per cent to Rs 39.14 billion.
Revenue from North America fell 2 per cent due to ongoing pricing pressures in the generics market because of increased competition.