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Wednesday, 7 November 2018

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Cipla's September quarter results lower than expectations

Cipla's September quarter results lower than expectations



The legendary pharma company Cipla has downgraded its target price by downgrading the analysts. The company's September quarter results were much lower than the market expectations. All this is a sign that there will be big challenges in front of the company in the coming quarters.

On Tuesday, the company's stock closed at 531.85, the lowest level in the last five months, down by 5.7% on the BSE. The company had released the September quarter result on Monday, which was lower than the market expectations. Consolidated net profit of Rs 377.05 crores has been reduced by 10.8% from last year in the September quarter. The company had a profit of Rs 422.39 crores in the last quarter of the last fiscal.

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