August 8, 2018 / 10:06 AM / in 14 days

India's Cipla Q1 profit trumps estimates

Aug 8 (Reuters) - Cipla Ltd, India’s third-largest drugmaker by market capitalisation, posted on Wednesday a more than 10 percent rise in its first-quarter profit, well above analysts’ expectations.

Net profit came in at 4.51 billion rupees ($65.67 million) in the three months ended June 30, compared with 4.09 billion rupees a year ago, the company said in a statement here

Analysts on average had expected a profit of 3.91 billion rupees, Thomson Reuters Eikon data showed.

Net sales jumped 12 percent to 38.46 billion rupees. ($1 = 68.6725 Indian rupees) (Reporting by Krishna V Kurup in Bengaluru, Editing by Sherry Jacob-Phillips)

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