Cipla Q3 Profit Up 44%, Tops Estimates

Mumbai: Indian drugmaker Cipla Ltd reported a 43.7 per cent jump in third-quarter net profit, beating analysts' expectations.

Net profit for the October-December quarter rose to Rs 375 crore ($55.79 million) from Rs 261 crore a year earlier.

That beat the Rs 370 crore forecast by 23 analysts on average, data from Thomson Reuters I/B/E/S showed.

India's fifth-largest drugmaker by sales derives most of its revenue from its home market, but is building its presence in markets such as the United States and the UK, where during the third quarter it launched the Seroflo inhaler, used for the treatment of asthma.

($1 = Rs 67.2150)

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