Cipla Stock Plunges 4% as Q3 Profit Halves, Misses Estimates

• Cipla's stock fell over 4% after its Q3 results significantly missed analyst expectations.
• Net profit dropped 57% year-on-year to ₹675.8 crore, far below the ₹1,224 crore estimate.
• Profitability was impacted by a ₹276 crore one-time cost due to a new labor code.
• Revenue remained flat at ₹7,075 crore, while EBITDA declined 36.7% to ₹1,255 crore.
• US business revenue decreased sequentially to $167 million from $233 million in the previous quarter.

Why It Matters: Cipla's Q3 performance was significantly below expectations, driven by reduced profit and US sales.