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Sanofi India shares hit all-time high on Q4 numbers; French arm actively pursuing antidote to coronavirus

The company's profit for the period jumped 22.7 percent year-on-year (YoY), coming at Rs 97.3 crore in Q4CY19 against Rs 79.3 crore in Q4CY18.

February 26, 2020 / 10:43 AM IST
 
 
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Shares of Sanofi India jumped over 9 percent in early trade on BSE on February 26 to hit their fresh all-time high of Rs 7,637.55, a day after the company announced its quarterly earnings and said its board had approved payment of final dividend.

The company's profit for the period jumped 22.7 percent year-on-year (YoY), coming at Rs 97.3 crore in Q4CY19 against Rs 79.3 crore in Q4CY18.

Revenue from operations for Q4CY19 stood at Rs 826.3 crore against Rs 726.4 crore in the corresponding quarter of the previous fiscal year.

The company follows January to December financial year.

The company's board has approved the payment of a final dividend of Rs 106 per equity share Rs 10 each and a one-time special dividend of Rs 243 per equity share Rs 10 each for the year ended December 31, 2019, said a regulatory filing by the company.

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The total dividend recommended is Rs 349 per equity share Rs 10 each for the year.

The company said the final, as well as one-time special dividend, will be paid on or after May 5, 2020.

Moreover, the company's board also approved the convening of the AGM of the company on April 28, 2020.

Besides, media reports are suggesting Sanofi may have coronavirus vaccine in 12-18 months.

"The French pharmaceuticals company, which worked a few years ago on a vaccine against SARS, is actively pursuing a similar antidote to the coronavirus. The executive noted that currently 40 percent of such ingredients are made in China and 20 percent in India. This is positive for Sanofi India," said Motilal Oswal Financial Services.

The scrip traded 3.34 percent up at Rs 7,235 on BSE around 09:35 hours IST.
Moneycontrol News
first published: Feb 26, 2020 10:17 am

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