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.