Merck shares soar 18% on robust Q2 earnings

The stock zoomed 17.72 percent to settle at Rs 2,882.50 on BSE. Intra-day, it jumped 19.99 percent to Rs 2,938.35 -- its 52-week high.

Shares of drug firm Merck today soared nearly 18 percent after the company reported over two-fold jump in net profit for the second quarter ended June 30.

The stock zoomed 17.72 percent to settle at Rs 2,882.50 on BSE. Intra-day, it jumped 19.99 percent to Rs 2,938.35 -- its 52-week high.

At NSE, shares of the company soared 16.68 percent to close at Rs 2,859.60.

Merck Ltd today reported over two-fold jump in net profit to Rs 48.30 crore for the second quarter ended June 30.

The company had posted a net profit of Rs 20.12 crore in the year-ago period, Merck said in a filing to BSE.

Merck follows the January-December calendar as its financial year.

Revenue from operations stood at Rs 220.28 crore during the reported quarter. It was Rs 173.61 crore in the same period a year ago.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)