November 5, 2018 / 7:27 AM / 8 days ago

India's Cipla Q2 profit dips nearly 11 pct, misses estimate

Nov 5 (Reuters) - Drugmaker Cipla Ltd posted a nearly 11 percent fall in second-quarter profit on Monday, much lower than analyst expectations.

Profit fell to 3.77 billion rupees ($51.73 million) in the quarter ended Sept. 30, compared with 4.23 billion rupees a year ago, Cipla said here

That missed analysts average expectation of 4.56 billion rupees, according to Refinitiv data.

Net sales fell 1 percent to 39.48 billion rupees. ($1 = 73.0650 Indian rupees) (Reporting by Tanvi Mehta in Bengaluru)

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