Zydus Wellness rallies on robust Q4 earnings

The board has proposed an interim dividend of Rs 6 per share of Rs 10 each.

Zydus Wellness has rallied 9% to Rs 540, extending its previous day’s 6% gain, on reporting a healthy 59% year-on-year (yoy) jump in its consolidated net profit at Rs 37 crore for the fourth quarter ended March 31, 2013 on the back of strong revenue growth. The consumer products firm had reported a profit of Rs 23.5 crore in the year ago quarter.

Consolidated net sales of the company for the quarter under consideration rose 26% to Rs 108 crore from Rs 85.8 crore in the same period year ago.

Meanwhile, the board of directors has proposed an interim dividend of Rs 6 per share of Rs 10 each.

The stock opened at Rs 501 and touched high of Rs 548 on NSE. A combined 207,530 shares changed hands on the counter so far against an average sub 100,000 shares that were traded daily in past two weeks on NSE and BSE.