Alembic Pharma shares climb 6.5% on stellar Q3 numbers

Alembic Pharmaceuticals shares soared by 6.48 per cent today as the company reported nearly four-fold jump in consolidated net profit for the quarter ended December.
Buoyed by the smart set of earnings, the stock surged by 6.48 per cent to end at Rs 625.65 on BSE. Intra-day, it advanced by 7.39 per cent to Rs 631.
At NSE, shares of the company jumped 5.94 per cent to close at Rs 625.10.
Following the rally, the company's market valuation rose by Rs 718.5 crore to Rs 11,794.50 crore.
Alembic Pharmaceuticals today reported nearly four-fold jump in its consolidated net profit to Rs 269.49 crore for the December quarter, mainly on account of robust sales in overseas markets.

The company had posted net profit after tax and share of profit/loss of associates of Rs 70.66 crore for the October- December period of the previous fiscal, Alembic said in a BSE filing.
Consolidated total income from operations rose to Rs 921.73 crore in the quarter under review as against Rs 511.78 crore in the year-ago period.