Dishman Pharma shares soar over 13% on robust Q1 results

MUMBAI: Shares of Dishman Pharmaceuticals and Chemicals today skyrocketed over 13 per cent as the company reported an over two-fold increase in consolidated net profit for the quarter ended June 30, 2012.

Extending the upward movement for the third day in a row today, shares of the company settled at Rs 79.05, up 13.41 per cent from its previous close on the BSE. In the intra-day, the stock surged 14.63 per cent to Rs 79.90.

At the NSE, the stock closed at Rs 78.90, up 13.36 per cent.

In the last three days, including today, the stock has gained about 25 per cent.

Dishman Pharma yesterday reported an over two fold increase in consolidated net profit to Rs 38.70 crore for the quarter ended June 30, 2012 mainly on account of robust performance in its contract research and manufacturing services segment.

The company had posted a net profit of Rs 15.12 crore for the corresponding period in the previous fiscal.