Bliss GVS Pharma shares jump 13% after strong show in June quarter

New Delhi: Shares of Bliss GVS Pharma surged as much as 13 per cent during early trade on Monday after a strong performance in June 2021 quarter.

The pharmaceutical firm reported a 50 per cent jump in net profit to Rs 24.25 crore in the quarter ended June 30, 2021, it said in a regulatory filing. The company had reported a net profit of Rs 16.19 crore in the same quarter previous year.

On a sequential basis, the net profit of the company tripled as it had reported a profit of Rs 8.15 crore in the March 2021 quarter.

Shares of the company jumped 13 per cent to Rs 121.8 on Monday. However, the counter was trading at Rs 118.45 at 10.10 am. BSE Sensex was trading 298.12 points, or 0.57 per cent, higher at 52,884.96 at the same time. The scrip had settled at Rs 107.60 on Friday.

The company's revenue from operations jumped 30 per cent to Rs 168.15 crore in Q1 as against Rs 129.55 crore during the year ago quarter.

Shares of Bliss GVS Pharma have remained an underperformer in the last one year. The scrip has gained only 10 per cent as compared to a 50 per cent rise in benchmark BSE Sensex. On a year-to-date basis, the stock has declined over 40 per cent.