Shares of drug major Cipla today surged over 7 per cent to touch a one-year high as it posted a 58.19 per cent jump in net profit for the quarter ended June 30, 2012.
The company’s scrip opened higher and gained 7.39 per cent to touch a 52-week high of Rs 363.60 on the BSE. Similarly, on the NSE, the stock soared 7.38 per cent to a one-year high of Rs 363.60.
On the volume front, 5.35 lakh shares of the company changed hands on the BSE, while over 35 lakh shares were traded on the NSE in the morning trade.
Cipla had yesterday posted a 58.19 per cent jump in net profit at Rs 400.76 crore for the quarter ended June 30, 2012, on the back of robust sales in both domestic and international markets.
The company had posted a net profit of Rs 253.34 in the same period previous fiscal.