Cipla shares jump after Q1 earnings beat estimates; Citi upgrades to buy, Morgan Stanley remains overweight
Cipla share price jumped over 6 percent at open on August 10 after the company reported its June quarter earnings post market hours on August 7.
The company reported a 26.6 percent year-on-year growth in its Q1 FY21 consolidated profit at Rs 566 crore, backed by strong performance by India, emerging markets and Europe geographies and robust operating margin. Revenue from operations grew 9 percent to Rs 4,346.2 crore.
India business showed a 10 percent YoY growth at Rs 1,608 crore. South Africa…