Cipla Announces Timeline for Stake Sale

1 Jun 2023 , 02:00 PM

On June 1, Cipla’s stock price fell by 0.36 % as the company announced the completion timeline for the stake sale of its subsidiary, Cipla Quality Chemical Industries Limited (CQCIL). Cipla, which is an Indian multinational pharmaceutical company headquartered in Mumbai whose stake sale is expected to be finalized on or before July 31, 2023, subject to regulatory approvals and satisfaction of agreed conditions.

• Cipla reported a consolidated net profit of Rs.525.65 crore for January-March, marking a 45.3 % increase compared to the previous year.
• Revenue grew by 9.1 % to Rs.5,739.30 crore in the same quarter.
• The EBIDTA margin expanded to 20.5% in the fourth quarter, attributed to a better product mix.
• As per the data taken from NSE, Cipla’s stock reached a 52-week high of Rs.1,185.20 on November 1, 2022, and a 52-week low of Rs.852 on March 22, 2023.
• At the time of writing, Cipla’s share was trading at Rs.959.25, which is 0.65% higher than the previous trading day.

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