MNC pharma major Aventis, declared its 3QCY04 and 9mCY04 results. In 3QCY04, the topline grew by 13.1% while the bottomline grew by 63%. For the first nine months of the year the topline growth was 11.2% and the bottomline grew by 73.7%. The operating margins o the company has expanded by almost 11% owing to the cost cutting drive.
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At Rs 851, the stock is trading at 15.6x annualized 9mCY04 earnings. We will soon put up a detailed analysis of the results.
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