Unichem Labs Q3 net profit at Rs2,507 crore
Unichem’s board has approved the buyback proposal for the purchase of its 2.06 crore equity shares for an aggregate amount not exceeding Rs885.80 crore from the shareholders of the company
New Delhi: Unichem Laboratories on Monday reported a standalone net profit of Rs2,507.03 crore for the third quarter ended 31 December, mainly on account of sale of the company’s domestic pharma business in India and Nepal to Torrent Pharmaceuticals.
The company had posted a net profit of Rs26.10 crore for the corresponding period of the previous fiscal, Unichem Laboratories said in a filing to BSE. Standalone total income stood at Rs165.82 crore for the quarter under review. It was at Rs159.82 crore for the same period a year ago.
The company also said its board has approved the buyback proposal for the purchase of its 2.06 crore equity shares for an aggregate amount not exceeding Rs885.80 crore from the shareholders of the company. The board noted the intention of the promoters and promoter group of the company to participate in the proposed buyback.
Shares of Unichem Laboratories on Monday closed at Rs369.25 per scrip on BSE, up 5.03% from the previous close.
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