The scrip touched a high of Rs 3,085 on the National Stock Exchange, registering a gain of 2.3 per cent from the previous close.
In the July-September quarter, AstraZeneca Pharma India reported a decline of 54.65 per cent in net profit to Rs 11.94 crore. In the same period last year, the drug firm had posted a net profit of Rs 26.63 crore.
On a quarter-on-quarter basis, AstraZeneca Pharma’s revenues rose 12.72 per cent in Q2FY22. In the April-June period, the same figure was at Rs 175.40 crore.
On a year-on-year basis, the company’s profitability suffered due to higher operating costs, in spite of gains in inventory efficiency.
For the quarter under review, the company reported a net profit margin of 6.04 per cent as against 12.57 per cent a year ago and 5.84 per cent a quarter ago.
A reduction in inventories led to a sharp fall in net cash generated from operations, an exchange filing showed.