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Consolidated revenue from operations fell by about 11 per cent to Rs 43.37 crore during the reported quarter from Rs 61.8 crore earlier.

The company posted losses of Rs 14.3 crore compared to Rs 31 crore in the quarter ended December 31, 2020.

Consolidated revenue for the December quarter stood at Rs 6,927 crore, up 3 per cent on-year while consolidated earnings before interest tax depreciation & amortization (Ebitda) also rose 3 per cent on-year to Rs 3,704 crore.

The fund aims to generate an investment return of 6.50 percent a year in dollar terms. It will have a tenor of three years from the date of fund closure, which could be extended by another one year.

Cipla reported a 2.6 per cent decline in its consolidated profit after tax to Rs 729 crore for the third quarter ended on December 31, 2021. An ET NOW poll of analysts had estimated the net profit at Rs 710 crore.

On the technical charts, the 200-day moving average of the stock stood at Rs 4238.17.

The company provided Rs 3,353.55 crore for the quarter down from Rs 5,175.99 crore

The Dow Jones Industrial Average rose 93.66 points, or 0.27 per cent, at the open to 34,261.75.

Total operating expenses rose 46 per cent to Rs 1,000 crore in December 2021

The lender, in which ace investor Rakesh Jhunjhunwala is an investor, said a fall in total provision and recovery from bad loans helped to log a more than two-fold rise in net profit at Rs 2,203 crore for the December quarter.