Unichem Laboratories has soared 10% to Rs 167 after it's net profit more than doubled to Rs 33.14 crore for the quarter ended June 30, 2012, on the back of higher sales and other income. The company had reported a net profit of Rs 15.62 crore in previous year quarter.
Net sales grew 40% at Rs 265 crore on year-on-year basis, while the other income surged almost four-fold at Rs 6.85 crore from Rs 1.83 crore in the previous corresponding quarter. Operating profit margins improved by more than 500 basis points to 20.64% from 15.22% during the quarter under review.
Meanwhile, the board has recommended dividend of Rs 3 (150%) per equity share of Rs 2 each, for the year ended March 31, 2012.
The stock opened at Rs 160 and hit a 52-week high of Rs 174 on the NSE. A combined 202,836 shares have already changed hands on the counter so far, as against an average of less than 75,000 shares that were traded daily in past two weeks.