Shares of Jubilant Life Sciences surged over 12% in trade on Wednesday after the company's consolidated net profit zoomed nearly 14-fold to Rs 149.03 crore in the March quarter on robust sales.
The company had posted a net profit of Rs 10.86 crore for the corresponding period of the previous fiscal year.
Reacting to its earnings, the stock advanced as much as 12.5% to Rs 762 on the BSE.
Over 3 lakh shares of the scrip exchanged hands on the BSE so far against its two-week average of 50,000 shares.
The company's consolidated total revenue from operations rose to Rs 1,641.42 crore for the quarter under consideration as against Rs 1,515.83 crore for the same period a year ago.
For the fiscal year ended March this year, the net profit of the company rose to Rs 574.62 crore as against Rs 386.82 crore a year ago.
Total revenue from operations stood at Rs 6,006.32 crore for the fiscal year ended March 31, 2017. It was Rs 5,893.31 crore in the previous fiscal year.
"The differentiated business model focusing on speciality pharmaceuticals has enabled us to deliver exceptional results and build a strong base for growth in our pharma business", Jubilant Life Sciences Chairman Shyam S Bhartia and Co- Chairman & MD Hari S Bhartia said.
Jubilant Life Sciences is an integrated global pharmaceutical and life sciences company engaged in pharmaceuticals, life science ingredients and drug discovery solutions.