Cipla, India’s third-largest drugmaker by revenue, reported a weaker-than-expected fourth-quarter profit on Wednesday, dragged by weak sales amid stiff competition in its key US market.
The drugmaker’s consolidated net profit fell 54.6 per cent year-on-year to ₹555 crore ($58 million) in the quarter ended March 31, missing analysts’ average estimate of ₹705 crore, according to data compiled by LSEG.
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