Jubilant Life Sciences stock closes 6.60% higher as Q4 net profit surges

The Jubilant Life Sciences stock rose on Wednesday after the firm reported Rs 149 crore net profit in Q4.

The firm had posted a net profit of Rs 10.86 crore for the corresponding period of the previous fiscal.

Its board recommended a dividend of Rs 3 per equity share of Re 1 each for the year ended 31 March, 2017.

The firm reported net profit that jumped nearly 14 times, aided by a 13 percent rise in revenue from its life sciences ingredients segment.

"The positive surprise is largely due to higher revenues in life science ingredients segment," Nomura analysts say. At 1251 hours, the stock was trading almost 11 percent or 72.30 points higher at Rs 750.55 on the BSE.

The stock closed 6.60 percent or 44.75 points higher at Rs 723 on the BSE.