Shares of Claris Lifesciences hit one-week highs

Shares of Claris Lifesciences Ltd., a mid-sized pharma company, hit one-week highs enthusing investors with its quarterly earnings.

Claris Life said its first quarter net profit surged 38 percent to 22.3 crore rupees compared with 16.1 crore rupees in the same quarter a year ago. Sales during April-June rose 23 percent to 191.9 crore rupees versus 156.5 crore rupees, the company said in a statement to the exchanges.

Claris rose 8.20 rupees, or 3.7 percent, to 228.80 rupees on the National Stock Exchange where the stock is trades at 0.9 times its book value of 245 rupees.

Claris has seen its market capitalisation jump 33 percent to 1,200 crore rupees in the past one year as investors bought into growing mid cap pharma companies.

Image credit: Indiatimes