February 6, 2019 / 9:31 AM / 5 months ago

India's Cipla Q3 profit falls, lags estimate

Feb 6 (Reuters) - Cipla Ltd, India’s second-biggest generic drugmaker by market capitalisation, reported a 17.1 percent fall in third-quarter profit on Wednesday, hurt by higher tax expenses.

Net profit came in at 3.32 billion rupees ($46.36 million), from a profit of 4.01 billion rupees last year, the company said here

Twenty analysts on an average expected the company to post a profit of 3.72 billion rupees, according to Refinitiv Eikon data.

Net sales rose 1.9 percent to 39.06 billion rupees.

$1 = 71.6150 Indian rupees Reporting by Krishna V Kurup and Tanvi Mehta in Bengaluru; Editing by Rashmi Aich

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