Cipla sees several headwinds in the second half, sharing 7%

Drug maker Cipla Ltd said on Monday that "multiple hurdles" would impact the company's performance in the second half of the year.

The company's shares fell by 8.28% in intra-day trading on Monday before closing at a fall of 7.33% to 563.90 rupees. on the BSE after its net profit fell 10.8% to 377 crores of rupees in the second quarter ended September 30, 2018, compared with 423 crores of rupees during the corresponding period of the year. Previous exercice.

Income growth during the July-September period decreased by 1.71%. [4119002] In a statement, Cipla's managing director and general manager of Cipla said that his exchange rate had decreased by 6.34% to stand at 753 crores of rupees during the same period of time. Previous exercice. Umang Vohra said the company had a modest quarter, but maintained a strong performance in the private market segment across all geographic areas, and its limited competitive strengths in the US were accelerating for the first time. generate quarterly growth.

"Beyond half of this exercise, several headwinds will likely affect our published performance, but we are focused on positioning our businesses for long-term growth," he added. .

Although price pressure continued in the United States, Cipla's North American operations grew 23% in the July-September quarter. rose 1,664 crore rupees against 1,645 crores of rupees during the same period last year. Sales in the second quarter of fiscal 2019 in Europe and South Africa fell by 7% and 3%, respectively.

The street was expecting Cipla's net profit of 26 billion rupees for the July-September quarter.

According to Cipla, tenders launched on the markets are under pressure, with crude and commodity prices rising and the rise in supply from China.

In a post-profit presentation, the company said the sanctions would affect the results published in some parts of the company, which would have a short-term impact due to the balancing of capabilities in certa. in specific categories of its factories.

A LOW DOSE

• Cipla's net income decreased by 10.8% to 377 crores of rupee in the second quarter ended September 30
• The street was waiting for what Cipla reports a net profit of about 450 crores from Rs.