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Marksans Pharma surges on strong Q2 results

The stock rallied 6% to Rs 64 on NSE after reporting 56% yoy growth in net profit at Rs 31 crore in September quarter.

SI Reporter  |  Mumbai 

Shares of Marksans Pharma has surged 6% to Rs 64 on NSE after reporting a strong 56% year-on-year jump in net profit at Rs 31.16 crore for the quarter ended September 2014 (Q2), on back of healthy sales. The pharmaceutical company had profit of Rs 20 crore in the same quarter last fiscal.

Net sales grew 30% to Rs 210 crore in September quarter as against Rs 161 crore in the corresponding quarter of previous year.

EBITDA or operating profit margin grew to 24.2% from 18.38% for the second quarter.

The stock opened at Rs 61.25 and touched a high of Rs 66.25 on NSE. The trading volumes on the counter more-than-doubled with a combined 10.33 million shares changed hands till 1250 hours on NSE and BSE.

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First Published: Fri, October 31 2014. 12:52 IST