Sanofi shares were upbeat on Wednesday as the company posted its earnings for the quarter ended March.

What Happened: The company’s revenue from operation went up 4% to ₹736.5 crore compared to the ₹707 crore revenue it booked in the year-ago period. EBITDA for the review period stood at ₹230 crore up 18% as against the ₹194.5 crore EBITDA it booked in the same quarter last year. EBITDA margin for the quarter stood at 31.2%.

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Net profits for the period stood at ₹190.4 crore, down 20% year-over-year. However, the profits are up 45% from the ₹130.9 crore profit the company booked in the December quarter. In the March quarter of 2022, the company had an exceptional item that accounted for a gain of ₹118.1 crore. The company transferred its distribution business of Soframycin and Sofradex to Encube Ethicals Private Limited.

The results followed the announcement that the company’s board has approved the demerger of its consumer healthcare business. The business owns brands like Allegra, Combiflam, DePURA, and Avil. The turnover of the consumer healthcare undertaking of the company for the year ended December 2022 was approximately ₹728 crore accounting for 28% of the total turnover of the company.

As soon as the results were announced at around 2:10 pm, Sanofi’s share price saw a sharp dip before bouncing back.

Price Action: Sanofi share price was up 1.60% to trade at ₹5,661.85 in the late hours of trading on Wednesday.

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