Sanofi India - Q1CY13 Result Review - Angel Broking

Sanofi India's reported its 1QCY2013 results, below expectations. The Sales and net profit for the quarter came in Rs. 363cr and Rs. 44cr, a yoy growth of 12.5% and 10.5% respectively. Though the sales came in lower by 9.5% as per our expectations. However margins which came in at 13.1% V/s expectations of 14.6%, aided the net profit growth to come in at 10.5%. The decline in the net profit was restricted on back of higher other income.

We maintain our neutral stance on the stock.

Source : Equity Bulls

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