July 23 (Reuters) – Cipla (CIPL.NS),one of India’s largest drugmakers by revenue, reported a bigger-than-expected 39.2% fall in first-quarter profit, its third consecutive quarterly decline, as muted sales of generic cancer drugs and supply disruptions affecting lanreotide, a treatment for rare tumors, weighed on its U.S. business.
The company’s consolidated net profit fell to 7.89 billion rupees ($81.73 million) in the quarter ended June 30. Analysts, on average, had expected profit at 8.17 billion rupees, according to data compiled by LSEG.
($1 = 96.5375 Indian rupees)
Reporting by Rishika Sadam and Mridula Kumar in Bengaluru; Editing by Rashmi Aich.
