Sanofi gains 3% after rising 8% a day post demerger announcement
Continuing its market rally post the demerger news of consumer healthcare business, Sanofi India shares were trading as much as 3% higher on BSE during intraday trade. The company stock was trading 3.07% higher at ₹6415 on BSE at 1:17 pm.
Sanofi India’s board announced the demerger of its consumer healthcare business. The separated business will be a fully-owned subsidiary of the company. The demerged company will be named as Sanofi Consumer Healthcare India Limited.
Sanofi’s consumer healthcare business includes a wide range brands like Allegra, Combiflam, DePURA , Avil, and others. The company posted a 20.1 per cent decline in its net profit to ₹190.4 crore in Q4 FY23 against a net profit of ₹238.4 crore in the corresponding quarter in FY22.
The revenue from operations increased by 4.2 per cent to Rs736.5 crore in March quarter from ₹707 crore during the same quarter a year ago.
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