Aventis Pharma's January-March net up 40%; shares rally

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 Rs2.76 billion for the quarter ended March 31.

A Reuters' poll of 18 brokerages had forecast a quarterly net profit of Rs410.67 million on net sales of Rs2.82 billion for Aventis Pharma.                                           

The drugmaker's domestic sales rose 12.6% on year to Rs2.22 billion 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 p.m., shares of Aventis Pharma were trading at Rs220.75, up 1.88% in a weak Mumbai market.