Mumbai: Shares of drug major Cipla Monday pared early gains on profit-booking, falling 5 percent, even as the company reported an over two-fold jump in consolidated net profit for the quarter ended June 30, 2015.
The stock reversed initial gains and ended the day with a loss of 4.95 percent at Rs 703.85 on the BSE. During the day, the stock had gained 1 percent to Rs 748.
At NSE, shares of the company settled at Rs 703.15, down 4.92 percent.
The company's market valuation dipped by Rs 2,941.47 crore to Rs 56,526.53 crore.
The stock was the biggest loser on both the key indices - Sensex and Nifty.
Cipla on Friday reported an over two-fold jump in its consolidated net profit to Rs 650.61 crore for the quarter ended June 30, 2015 mainly on account of robust sales.
The company had posted a net profit of Rs 294.58 crore for the corresponding period of the previous fiscal, Cipla had said in a statement.
Consolidated total income from operations also rose to Rs 3,852.77 crore for the quarter under consideration as against Rs 2,720 crore for the same period a year ago.
In the broader market, the BSE Sensex ended the day 189.04 points down at 27,878.27.
