Cipla shares drop after company reports net loss

New Delhi: Shares of pharma major Cipla today fell 5 per cent after the company reported consolidated net loss of Rs 61.79 crore for the March quarter. The stock, after making a weak opening, further tanked 4.97 per cent to Rs 479 on BSE.

At NSE, shares of the company dipped 4.72 per cent to Rs 480.20. Cipla yesterday reported narrowing of its consolidated net loss to Rs 61.79 crore for the fourth quarter ended March 31.

The company had posted a net loss of Rs 92.83 crore for the corresponding period of the previous fiscal, Cipla said in a BSE filing. Consolidated total income of the company rose to Rs 3,604.79 crore for the quarter under consideration as against Rs 3,373.91 crore for the same period a year ago.