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Tuesday, October 29, 2024
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HomeIndiaIndia's Cipla beats Q2 profit estimates on strong US demand

India’s Cipla beats Q2 profit estimates on strong US demand

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(Reuters) – Cipla, India’s third-largest generic drugmaker by sales, reported a second-quarter profit above expectations on Tuesday, driven by higher sales of its respiratory and cancer drugs in its key North American and domestic markets.

The company reported a 15.2% rise in its consolidated net profit to 13.03 billion rupees ($155 million) for the quarter ended Sept. 30, beating analysts’ estimate of 12.34 billion rupees, as per data compiled by LSEG.

($1 = 84.0480 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru; Editing by Abinaya Vijayaraghavan)

Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibilty for its content.

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