India's Unichem Laboratories hits record high on Q3 profit

Unichem Laboratories

05/02/2024 09:09

** Shares of Unichem Laboratories  UNLB.NS  surge 17.3% to a
record high to 548.7 rupees; last up ~13%
    ** Pharmaceutical firm reported Dec-qtr profit of 839.9 mln
rupees ($10.1 mln) vs yr-ago loss of 639.3 mln rupees; rev from
ops rose nearly 44%
    ** Stock on track for best day since early-April 2023 if
gains hold
    ** More than 1 mln shares change hands by 2:30 p.m. IST,
20.5x the 30-day avg
    ** Stock fell 2.9% in the reporting quarter, but rose 15.3%
in Jan. 2024

($1 = 83.0566 Indian rupees)

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