Cipla stocks jump over 7% after earnings announcement

The company's shares climbed 7.35% to close at Rs 1,409.05 apiece on the Bombay Stock Exchange.

New Delhi: Shares of Cipla on Tuesday jumped more than 7 per cent a day after the company reported a 32.25 per cent rise in its profit to Rs 1,068.41 crore in the third quarter.

The company's shares climbed 7.35 per cent to close at Rs 1,409.05 apiece on the BSE. On the NSE, the scrip of Cipla advanced 6.97 per cent to end at Rs 1,407.95 per piece.

In volume terms, 2.98 lakh equity shares were traded on the BSE, while 75.56 lakh shares were traded on the NSE, during the day.

On Tuesday, the BSE Sensex plunged 1,053.10 points or 1.47 per cent to settle at 70,370.55, while the NSE declined 1.54 per cent at 21,238.80 points.

In a regulatory filing on Monday, Cipla Ltd reported a 32.25 per cent rise in consolidated profit to Rs 1,068.41 crore in the third quarter ended December 2023.

The company had posted a consolidated profit of Rs 807.83 crore in the year-ago period. Total income of Cipla in the third quarter stood at Rs 6.788.44 crore, up 14.58 per cent, the company said.

During the quarter, its revenue from pharmaceuticals was Rs 6,365.06 crore, and from new ventures was Rs 280.51 crore, it added.