6 hours Ago By CNBCTV18
As many as 1.39 crore shares or 1.72% equity of Cipla Ltd changed hands in four block deals on Monday, December 2.
NSE On Friday, November 29, CNBC-TV18 had reported , citing sources that Cipla's promoters were looking at selling up to 1.39 crore shares or 1.72% of the company's equity via block deals.
The offer price was to be set at ₹1,442 per share, reflecting a 6% discount to the current market price (CMP) of Cipla shares, sources said, adding that the total size of the transaction was estimated to be around ₹2,000 crore. In the September quarter, Cipla reported a 15% increase in net profit at ₹1,303 crore. A CNBC-TV18 poll had predicted the same to be at ₹1,250 crore, while a year-ago the net profit was at ₹1,131 crore.
Cipla's topline was in line with estimates of ₹7,041.6 crore. The company's revenue from operations came in at ₹7,051 crore in the quarter under review, up from ₹6,678 crore in the second quarter of FY24.
It was higher by 5% on a YoY basis. Its EBITDA increased 8.7% to ₹1,885.
5 crore from the previous year's ₹1,733.8 crore. EBITDA margin stood at 27%, higher than CNBC-TV18's poll of 26%.
Cipla reported North America sales of $237 million, up 4% year-on-year, supported by traction in the differentiated portfolio, during the July-September period. Cipla's India business grew 5% on-year, while the Branded Prescription business continued to outpace the market in key chronic therapies. The consumer health business grew by 21% YoY.
Cipla shares ended the previous trade session 2.63% higher at ₹1,532 apiece. The stock has gained 22.
46% this year, so far..
