Shares of pharmaceutical companies are in focus, trading higher by up to 8% after reporting a robust net profit growth for the quarter ended December 31, 2013 (Q3FY14).
Aurobindo Pharma, Sun Pharmaceutical Industries, Biocon, Dr Reddy’s Laboratoreis, Divi’s Laboratories, Lupin, Cipla, Ipca Laboratories and Glenmark Pharmaceuticals are up 1-5% on the Bombay Stock Exchange (BSE).
The BSE Healthcare index, the second largest gainer among sectoral indices, was up 1.74% or 176 points at 10,342 compared to 0.51% or 104 points rise in benchmark S&P BSE Sensex at 1150 hours.
Forty-eight pharmaceutical companies so far declared their December quarter results, have posited an average 42.7% year on year (yoy) growth in net profit at Rs 1,775 crore, as against Rs 1,243 crore in the corresponding quarter of previous fiscal. Net sale increased by 20.2% at Rs 17,224 crore on yoy basis.
Aurobindo Pharma has surged 5% to Rs 516 after reporting over four-fold jumped in consolidated net profit at Rs 417 crore for Q3FY14 on back of strong operational income. The company’s total income rose 36% yoy at Rs 2,144 crore as compared with Rs 1,576 crore in the corresponding quarter previous year.
The stock opened at Rs 530 and touched a record high of Rs 540 on the National Stock Exchange (NSE).
Granules India was up 8% at Rs 286, rallied 36% from Rs 210 on January 27, after reported over three-fold rise in net profit at Rs 21.8 crore for Q3FY14, as against Rs 5.8 crore for the corresponding period last year.
Net sales of the company during the quarter rose by 45% at Rs 284 crore, as against Rs 195 crore last year. The EBITDA or operating margin increased by 630 bps yoy to 16%, Granules India said in a statement.
Aurobindo Pharma, Sun Pharmaceutical Industries, Biocon, Dr Reddy’s Laboratoreis, Divi’s Laboratories, Lupin, Cipla, Ipca Laboratories and Glenmark Pharmaceuticals are up 1-5% on the Bombay Stock Exchange (BSE).
The BSE Healthcare index, the second largest gainer among sectoral indices, was up 1.74% or 176 points at 10,342 compared to 0.51% or 104 points rise in benchmark S&P BSE Sensex at 1150 hours.
Forty-eight pharmaceutical companies so far declared their December quarter results, have posited an average 42.7% year on year (yoy) growth in net profit at Rs 1,775 crore, as against Rs 1,243 crore in the corresponding quarter of previous fiscal. Net sale increased by 20.2% at Rs 17,224 crore on yoy basis.
Aurobindo Pharma has surged 5% to Rs 516 after reporting over four-fold jumped in consolidated net profit at Rs 417 crore for Q3FY14 on back of strong operational income. The company’s total income rose 36% yoy at Rs 2,144 crore as compared with Rs 1,576 crore in the corresponding quarter previous year.
The stock opened at Rs 530 and touched a record high of Rs 540 on the National Stock Exchange (NSE).
Granules India was up 8% at Rs 286, rallied 36% from Rs 210 on January 27, after reported over three-fold rise in net profit at Rs 21.8 crore for Q3FY14, as against Rs 5.8 crore for the corresponding period last year.
Net sales of the company during the quarter rose by 45% at Rs 284 crore, as against Rs 195 crore last year. The EBITDA or operating margin increased by 630 bps yoy to 16%, Granules India said in a statement.
