Ranbaxy Jumps 7% as Q2 Beats Estimates

Ranbaxy shares jumped over 7 per cent to a day high of Rs 642.6 as its July- September quarter earnings beat Street estimates.

Ranbaxy which is in the process of being acquired by Sun Pharmaceuticals posted a net profit of Rs 478 crore compared to a loss of Rs 454 crore a year earlier.

Its sales grew 17 per cent year-on-year to Rs 3,220 crore in the reporting period compared to Rs 2,750 crore in the same quarter, previous fiscal.

Analysts polled by NDTV had estimated its net profit at Rs 279 crore on sales of Rs 2,985 crore.

Ranbaxy shares ended 5.8 per cent higher at Rs 633.5 apiece outperforming the Nifty which ended with 0.45 per cent gains on Tuesday.