Shares of Sanofi India rose sharply on February 24 due to a surge in net profit in the last quarter of 2022.

Shares of the pharmaceutical company were trading at Rs 5,559 on the National Stock Exchange at 10:21 am, up 3.59% from the previous close. The stock also went to an intraday high of Rs 5,626.50.

The stock’s gains were accompanied by substantial trading volume, well above the one-month daily average.

Sanofi’s quarterly revenue fell 2.3% year-on-year to Rs 672 crore, but net profit rose 45% year-on-year, driven by strong operating results.

Operating profit, or EBITDA margin, rose 635 basis points to 24.84%, driven by lower input costs.

Apart from earnings, Sanofi India also declared a final dividend of Rs 194 per share and a second special dividend of Rs 183 per share for the financial year ending December 2022. Sanofi India follows the calendar year as its financial year.