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Cipla's Q2 Profit Plummets 35% Amidst Rising Costs
27 Oct
Summary
- Cipla's net profit decreased by 35% in the second quarter.
- Total revenue from operations saw a marginal fall year-on-year.
- The company experienced an increase in overall expenses during Q2.
Cipla has announced its financial results for the second quarter ended September, revealing a substantial 35% decrease in consolidated net profit. The net profit for the period stood at ₹877.54 crore, a notable decline from the ₹1,351.17 crore reported during the same quarter in the prior year.
The company's performance was impacted by a marginal fall in its total revenue from operations, which decreased to ₹7,403.93 crore compared to ₹7,589.44 crore in the corresponding period of the previous financial year.
Concurrently, Cipla observed an increase in its total expenses. These rose to ₹6,377.75 crore during the July-September quarter, up from ₹6,004.86 crore in the second quarter of the previous financial year. This rise in expenses contributed to the reduction in overall profitability.
