Cipla shares rallied nearly 10 percent to close at around Rs 798, as the market gave a thumbs-up to the pharma major’s strong first-quarter performance. The stock is off its 52-week high of Rs 814 but continues to see heavy volumes.
The company reported a 26.6 percent year-on-year (YoY) growth in its consolidated profit for the quarter ended June 30, 2020 at Rs 566 crore.
The revenue from operations grew 9 percent YoY to Rs 4,346.2 crore. Its R&D investments stand at Rs 200 crore or 4.6 percent of revenue. The company has also achieved a zero net debt position due to strong collections and improved EBITDA.
The group said it continues to closely monitor the impact of the Covid-19 pandemic on all aspects of its business, including how it will impact its customers, employees, vendors, and business partners.
On CNBC-TV18's ‘Stock 360’, Anuj Singhal takes a 360-degree check of the stock.Watch the video for more