Unichem Lab shares tank over 6.5% on disappointing Q2 results

Shares of drug firm Unichem Laboratories today slumped over 6.5 per cent after the company reported 11.28 per cent dip in standalone net profit for the second quarter ended September 30.
The stock tanked 6.23 per cent to end at Rs 285.40 on BSE. During the day, it plunged 8.29 per cent to Rs 279.10.
At NSE, shares of the company tumbled 6.55 per cent to close at Rs 284.90.
The company's market valuation fell by Rs 171.56 crore to Rs 2,593.44 crore.
On volume front, 1.40 lakh shares of the company were traded on BSE and over 6 lakh shares changed hands at NSE during the day.

Unichem Laboratories today reported 11.28 per cent dip in standalone net profit to Rs 20.52 crore for the second quarter ended September 30.

The company had posted a net profit of Rs 23.13 crore for the corresponding period of the previous fiscal, Unichem Laboratories said in a filing to BSE.
Standalone total income from operations of the company, however, rose to Rs 368.03 crore for the quarter under consideration as against Rs 309.79 crore for the same period year-ago.
Unichem manufactures and markets pharmaceutical formulations in India and several other markets across the world.