Aarti Drugs hits new high on 1:1 bonus issue; strong Q3 results

The stock hit a new high of Rs 1,345 on BSE.

Aarti Drugs has rallied 11% to Rs 1,335 on BSE in early morning trade after the pharmaceutical company announced an issue of bonus shares in a ratio of 1:1 and a strong set of numbers for the quarter ended December 31, 2014 (Q3).

The stock opened at Rs 1,324 and touched a new high of Rs 1,345 on BSE. A combined around 10,000 shares changed hands till 0917 hours on BSE and NSE.

“Announcement of bonus equity shares by capitalization of reserves & surplus including securities premium account to the existing shareholders of the company in proportion of 1:1 i.e. 1 (one) bonus equity share of Rs 10 each fully paid up for every 1 (one) existing equity share of Rs. 10 each fully paid up held in the company on the 'Record Date' to be fixed in this behalf in due course,” Aarti Drugs said in a statement.

The board has also declared second interim dividend Rs 5 per share for the financial year 2014-2015, it added.

Meanwhile, the company has reported a strong 61% year on year (yoy) jump in net profit at Rs 22.75 crore for Q3FY15. The company had profit of Rs 14.16 crore in a year ago quarter.

Net sales grew 17% at Rs 260 crore on yoy basis.