Dishman Pharmaceuticals and Chemicals  has surged 18% to Rs 65.10 after reporting a ten-fold jump in consolidated net profit at Rs 16.72 crore for the quarter ended December, on the of lower raw material cost. The mid-cap pharmaceutical company had a net profit of Rs 1.68 crore in the same quarter year ago.

The operating profit of the company jumped 95% to Rs 61.52 crore from Rs 31.48 crore, while net sales grew 14% at Rs 265 crore on year-on-year basis.

The raw material cost of the company has declined by one-fourth to Rs 62.95 crore from Rs 83.46 crore during the recently concluded quarter, the company said in a filing to the stock exchanges.

A combined 2.04 million shares have changed hands on the counter so far against an average around 355,000 shares that were traded daily in past ten trading days on the NSE and BSE.