Shares of drug major Lupin today rallied 9 per cent, adding Rs 6,787 crore to its market valuation, following growth in the December quarter net profit on a sequential basis.
The stock surged 9.04 per cent to end at Rs 1,801.45 on the BSE. During the day, it rallied 10.75 per cent to Rs 1,829.85.
On NSE, shares of the company rose by 9 per cent to settle at Rs 1,802.85.
Led by the smart surge in the stock price, the company's market valuation surged by Rs 6,787.36 crore to Rs 81,161.36 crore.
The stock was the top gainer on both the key indices - Sensex and Nifty.
Lupin today reported 11.92 per cent decline in consolidated net profit to Rs 529.75 crore for the third quarter ended December 31, hit by weak sales in the US.
The company had posted a net profit of Rs 601.45 crore in the same period of the previous fiscal.
Net sales, however, rose to Rs 3,357.66 crore compared with Rs 3,144.91 crore in the same period a year ago.
"Sequentially, the quarter has improved significantly and this will get much better going forward," Lupin Managing Director Nilesh Gupta said in a statement.
On a quarter-on-quarter basis, the company's consolidated net profit rose to Rs 529.75 crore for the third quarter ended December 31, from Rs 408.8 crore in September quarter.
