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Cipla shares jump nearly 8%; m-cap rises by Rs 3,589 cr

Cipla shares jump nearly 8%; m-cap rises by Rs 3,589 cr

New Delhi, Feb 8 (PTI) Shares of drug maker Cipla today surged nearly 8 per cent, a day after the company reported 7 per cent rise in profit for the third quarter ended December 2017.

The stock jumped 7.83 per cent to end at Rs 613.70 on BSE. During the day, it soared 8.58 per cent to Rs 618.

On NSE, shares of the company surged 7.62 per cent to close at Rs 612.65.

The companys market valuation surged by Rs 3,589.55 crore to Rs 49,402.55 crore. In terms of equity volume, 5.16 lakh shares of the company were traded on BSE and over 83 lakh shares changed hands at NSE during the day.

Cipla yesterday said its net profit rose to Rs 401 crore in the third quarter due to strong sales in India, Europe and African markets.

The company reported a net profit of Rs 375 crore in the same period last year. The companys consolidated revenue rose 7 per cent to Rs 3,914 crore in the quarter, compared with Rs 3,647 crore in the corresponding period last year. PTI SUM ANS ANU