Unichem Labs Q3 net profit at Rs 25 bn

Unichem Laboratories on Monday reported a standalone net profit of Rs 25.07 billion for the third quarter ended December 31, mainly on account of sale of the company's domestic pharma business in India and Nepal to Torrent Pharmaceuticals.

The company had posted a net profit of Rs 261 million for the corresponding period of the previous fiscal, Unichem Laboratories said in a filing to BSE.

Standalone total income stood at Rs 1,658.2 million for the quarter under review. It was at Rs 1,598.2 million for the same period a year ago.

The company also said its board has approved the buyback proposal for the purchase of its 20.6 million equity shares for an aggregate amount not exceeding Rs 8,858 million from the shareholders of the company.

The board noted the intention of the promoters and promoter group of the company to participate in the proposed buyback.

Shares of Unichem Laboratories on Monday closed at Rs 369.25 per scrip on BSE, up 5.03 per cent from the previous close.