BENGALURU (Reuters) – Indian drugmaker Cipla reported a better-than-expected 11% rise in second-quarter profit on Friday, as revenue from new ventures almost doubles.
Consolidated net profit rose to 7.89 billion Indian rupees ($95.6 million) in the quarter, from 7.11 billion rupees a year ago.
Analysts, on average, expected the company to report a profit of 7.83 billion rupees, according to Refinitiv data.
Cipla’s total revenue from operations rose 5% to 57.59 billion rupees. ($1 = 82.5010 Indian rupees)
(Reporting by Rama Venkat and Anuran Sadhu in Bengaluru; Editing by Savio D’Souza)
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