Bengaluru: Cipla Ltd, India’s third-largest drugmaker by market capitalisation, posted a more than 10% rise in its first-quarter profit on Wednesday, well above analysts’ expectations.
Net profit rose 10.4% from a year earlier to ₹451 crore ($65.67 million) in the first quarter ended 30 June, the drugmaker said on Wednesday.
This compared with an average analyst expectation of ₹391crore, according to Thomson Reuters I/B/E/S.
Net sales rose 12% to ₹3,846 crore, the company said in a statement.
Revenue from India, which accounted for more than a third of the total revenue, jumped 22% to ₹1,544 crore.
North America business posted 4% growth, Cipla said.
The company has appointed R. Ananthanarayanan as global chief operating officer to oversee its businesses in North America, Europe and emerging markets.
Shares in Cipla closed 0.5% higher in a Mumbai market that rose 0.5%.