Drugmaker Cipla Limited is expected to report a higher net profit on a year-on-year (Y-o-Y) basis for the quarter ended December 2022 as it might benefit from higher sales in the US market.
Cipla, which will unveil its financial results for the fiscal third quarter on January 25, may see its consolidated net profit rise 21.9 percent YoY and 10.6 percent Quarter-on-Quarter (QoQ) to Rs 888.4 crore, according to the average estimate of securities firms polled by Moneycontrol.
Ahead of results, the stock is trading lower at Rs 1056.55 per share, down by 0.5 percent. On January 24, it closed flat at Rs 1,062.15 apiece.
Its India business is expected to have grown at mid-single digits in what is a seasonally weak quarter, according to analysts at BNP Paribas.