Merck rallies 9% on good March quarter results; stock hits new high

The company's profit after tax rose 79 per cent at Rs 40.7 crore in Q1CY19 driven by high-interest income and operational efficiencies

Procter & Gamble Health Limited (formerly Merck Limited) shares hit a new high of Rs 4,042, up 9 per cent, on the BSE in an otherwise subdued market after the company reported strong March quarter earnings (Q1CY19). In comparison, the S&P BSE Sensex was marginally down by 0.04 per cent at 37,449 points at 02:01 pm.

The stock surpassed its previous high of Rs 3,990, recorded on April 9 in intra-day trade.

The pharmaceutical company’s profit after tax rose 79 per cent at Rs 40.7 crore in Q1CY19 driven by high interest income and operational efficiencies. It had