Dishman Pharma drops on profit booking after announcing Q1 results

Dishman Pharmaceuticals and Chemicals fell 1.02% to Rs 165.70 at 14:22 IST on BSE after consolidated net profit rose 13.71% to Rs 45.51 crore on 7.08% decline in total income from operations to Rs 375.40 crore in Q1 June 2016 over Q1 June 2015.

Meanwhile, the BSE Sensex was down 212.54 points, or 0.76%, to 27,769.17

On BSE, so far 9.51 lakh shares were traded in the counter, compared with average daily volume of 2.36 lakh shares in the past one quarter. The stock hit a high of Rs 169.65 and a low of Rs 158.50 so far during the day. The stock hit a 52-week high of Rs 209.85 on 4 November 2015. The stock hit a 52-week low of Rs 86.93 on 25 August 2015. The stock had outperformed the market over the past one month till 2 August 2016, rising 17.85% compared with 3.08% rise in the Sensex. The scrip, however, underperformed the market in past one quarter, sliding 1.12% as against Sensex's 10% rise.

The small-cap company has an equity capital of Rs 32.28 crore. Face value per share is Rs 2.

Dishman Pharmaceuticals and Chemicals announced its first quarter results during trading hours today, 3 August 2016. The stock had surged ahead of the results announcement. The stock surged 13.95% in four trading sessions to settle at Rs 167.40 yesterday, 2 August 2016, from its close of Rs 146.90 on 27 July 2016.

Dishman Pharmaceuticals acts as a full fledged CRAMS (contract research and manufacturing services) partner for global pharma innovators. It also makes phase transfer catalysts, Vitamin D, Vitamin D analogues, cholesterol, laolin related products, antiseptic and disinfectant formulations for pharmaceutical, cosmetic and related markets. The company also makes generic active pharmaceutical ingredients (API) and intermediates for the pharmaceutical industries.

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