Cipla shares gave 11% profit in few hours, know what was the reason

The stock of pharmaceutical company Cipla has seen a jump of 11 percent on Monday. The jump comes after the company reported a 26.58 percent increase in its consolidated net profit for the quarter ended June 30. The company’s stock rose 11.78 per cent to a 52-week high of Rs 814.45 on Monday on the Bombay Stock Exchange. On the National Stock Exchange, Cipla’s stock reached a level of Rs 814.50 during trading on Monday.

The pharmaceutical company said on Friday that the company reported a consolidated net profit of Rs 566.04 crore in the June quarter, up 26.58 per cent due to a jump in sales. The company reported a net profit of Rs 447.15 crore in the year-ago period. Cipla gave this information in a BSE filing.

The company’s total revenue from operations in the April to June quarter stood at Rs 4,346.16 crore. It was Rs 3,989.02 crore in the year-ago period.

Cipla Managing Director and Global CEO Umang Vohra said, ‘During the April-June quarter, our businesses actively considered their operating models for strong growth in India, South Africa and the US markets and cost optimization Focused on This helped the EBITDA to reach 24 per cent for the quarter. He also said that the company is also at the forefront in combating COVID-19 through its strategic partnership.