Cipla dipped 4.4% to Rs 192 after declaring a 30% fall in net earnings for the first quarter ended June 30, 2007.

The stock hit an intraday low of Rs 191.70 and an intraday high of Rs 199.85 during the day.

The scrip turned down on high volume of 21.1 lakh shares on the BSE counter.

The company recorded a 30% fall in its net profit to Rs 120 crore in Q1 June 2007 as against in the corresponding period (Q1 June 2006) of the last year.

Cipla’s net sales for the forst quarter arose 5% to Rs 902 crore in Q1 June 2007 over Q1 June 2006 on growth in active pharmaceutical ingredient (API) exports business. The results were announced on 21 July 2007.