Sanofi Shares Surge 4% After Healthy Q3 Results

Shares of Sanofi snapped their 3-day losing streak on Friday after reporting around 45% year-over-year increase in profits in the December quarter.

What Happened: The healthcare company released Q4 results for CY22 on Thursday. The company reported a 45% YoY increase in profits at ₹130.9 crore. However, profit growth remained flat quarter-over-quarter as the company had booked ₹130.9 crore in profits in the September quarter as well.

The company’s revenue from operations also fell by around 2.3% YoY and 2.8% sequentially to ₹671.9 crore. The company’s annual performance for CY22 was also muted as profits declined 34.3% to ₹620.6 crore and revenue saw a 6.3% drop at ₹2,770 crore compared to the previous year.

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Talking about the numbers, the company in a regulatory filing said “that sales for the year ended December 31, 2022, are not comparable with the previous year due to the sale of the Nutraceutical business
and sale of the distribution business of Soframycin and Sofradex.” The company also saw exceptionally higher sales domestically last year due to the outbreak of Covid-19, the healthcare giant added.

The company’s board also announced a total dividend of ₹377/share. This includes a final dividend of ₹194/share and a second special dividend of ₹183/share. The dividend payout will be made by May 22 if the proposal is approved at the company’s shareholder’s meeting on May 11.

Price Action: Sanofi shares traded 4.08% higher at ₹5,579 as the markets opened for business on Friday.

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