India's Aarti Pharmalabs hits record high on Q4 profit jump

Aarti Pharmalabs

14/05/2024 06:36

** Shares of Aarti Pharmalabs  AARP.NS  up as much as 11.9%
to a record high of 581.95 rupees
    ** The active pharmaceutical ingredients (API) maker on
Monday reported a 52.2% Y/Y jump in its March-qtr consolidated
net profit to 652.5 mln rupees ($7.8 mln) 
    ** Revenue from operations rose 4.3% Y/Y 
    ** AARP on track for a third consecutive session of gains,
if trends hold
    ** Stock posts biggest intraday pct gain since April 2023
    ** More than 3.4 mln shares change hands by 11:03 a.m. IST,
16.3x the 30-day moving avg
    ** Including session's move, stock is up 14.4% YTD

($1 = 83.5020 Indian rupees)

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))