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Aventis Pharma Q4 net up 40%; shares rally

Aventis Pharma Q4 net up 40%; shares rally
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First Published: Tue, Apr 26 2011. 01 47 PM IST
Updated: Tue, Apr 26 2011. 01 47 PM IST
Mumbai: Drugmaker Aventis Pharma on Tuesday reported a forecast-beating 40% rise in net profit for January-March on higher sales and other income, pushing its shares up over 10%.
The drugmaker, a unit of France-based Sanofi-Aventis, clocked a net profit of Rs506 million on net sales of Rs276 crore for the quarter ended 31 March.
A Reuters’ poll of 18 brokerages had forecast a quarterly net profit of Rs410.67 million on net sales of Rs282 crore for Aventis Pharma.
The drugmaker’s domestic sales rose 12.6% on year to Rs222 crore while exports remained flat at Rs542 million, it said in a statement.
The firm’s other income rose to Rs172 million in January-March from Rs57 million a year ago, it said.
At 1:14 pm, shares of Aventis Pharma were trading at Rs220.75, up 1.88% in a weak Mumbai market.
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First Published: Tue, Apr 26 2011. 01 47 PM IST
More Topics: Company results | Aventis Pharma | Q4 | Profit | Shares |