Shares of Sanofi India settled for the day with gains of over 3 per cent on the BSE, thereby adding Rs 268 crore to its market capitalisation.
The drug firm reported over two-fold increase in its net profit at Rs 92.7 crore for the fourth quarter ended December 31, 2013.
Reacting to the good numbers, shares of the company opened on a bullish note and jumped 5.25 per cent to an intra-day high of Rs 2,779 on the BSE.
At the end of today's trading session the stock was quoted at Rs 2,728.40, higher by 3.34 per cent over its previous closing price. Accordingly the market worth of the company increased by Rs 268 crore to Rs 6,283 crore.
Sanofi India's net profit for the quarter ended December 31, 2013, witnessed over two-fold increase on account of robust sales in export markets. The company had posted a net profit of Rs 44.8 crore during the same period of the previous fiscal.
"Sanofi India posted numbers better than expected," Angel Broking (VP-Research, Pharma) Sarabjit Kour Nangra said, adding that "the main surprise came in at operating front."
The company while announcing the earnings yesterday, said that the "significantly better export performance during the quarter and the year ended December 31, 2013, has resulted in improvement in profitability of the company."
Moreover, the company's board, has recommended final dividend of Rs 35 per equity share of Rs 10 for the year ended December 31, 2013.
