Venus Remedies soars on stellar Q3 performance
Q3 net profit rose 56% y-o-y to Rs 16.06 crore against Rs 10.33 crore it recorded for the same period last year.
Venus Remedies has soared 9% to Rs 270 after reporting a robust 56% year-on-year (yoy) jump in net profit at Rs 16.06 crore for the third quarter ended December 31, 2012 (Q3) on back of higher
“The company’s net sales increased by 18% to Rs 113 crore for the quarter ended December 2012 compared to Rs 96 crore for the corresponding quarter last year,” a research-based global pharmaceutical company said in a filing.
Operating profit margins has improved by almost 200 basis points yoy to 27.1% from 25.37%.
The stock opened at Rs 252 and touched high of Rs 285 on NSE. A combined 138,897 shares have changed hands on the counter in early morning trades against an average sub 100,000 shares that were traded daily in past two weeks.
“The company’s net sales increased by 18% to Rs 113 crore for the quarter ended December 2012 compared to Rs 96 crore for the corresponding quarter last year,” a research-based global pharmaceutical company said in a filing.
Operating profit margins has improved by almost 200 basis points yoy to 27.1% from 25.37%.
The stock opened at Rs 252 and touched high of Rs 285 on NSE. A combined 138,897 shares have changed hands on the counter in early morning trades against an average sub 100,000 shares that were traded daily in past two weeks.