India's SMS Pharmaceutical jumps on Sept-qtr profit surge

SMS Pharmaceuticals

08/11/2023 08:07

** Shares of SMS Pharmaceuticals  SMSP.NS  up as much as 7.9% to
130.65 rupees, touching their highest level since Sept. 4
    ** Stock posts biggest intraday pct gain since Aug. 24; on
track for a fifth consecutive sessions of gains, if trends hold 
    ** The pharmaceutical manufacturing co reported a more than
16-fold surge in profit to 120.5 mln rupees ($1.45 million) from
7.3 mln rupees a year earlier
    ** Revenue from operations rose 4.5% to 1.67 bln rupees
    ** More than 683,000 shares change hands by 1:33 p.m. IST,
12.8x its 30-day avg
    ** Stock currently up 3.4%, bumping YTD gains to 51.03%
    
($1 = 83.2700 Indian rupees)

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