Cipla Q4 Profit Misses Estimates as US Sales Decline
Cipla reported a 54.6 percent drop in fourth-quarter profit. Weak North American sales and rising costs offset strong growth in the Indian domestic market.
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Cipla reported a 54.6% drop in fourth-quarter net profit to 5.55 billion rupees ($58 million) as North American sales slumped and missed analyst estimates. The result trailed the 7.05 billion rupee average forecast by LSEG. Weak U.S. margins and higher costs offset strong domestic growth, signaling a geographic shift in the drugmaker's profit drivers.
