Cupid shares surge 9% on securing 3 year contract from UNFPA


Cupid share price advanced as much as 9 per cent in the early trade on Monday after it informed bourses that a non-exclusive long term agreement has been awarded to the company for manufacture and supply of Cupid Female Condoms to UNFPA for a period of 3 years.
At 9.27 am, Cupid shares were trading 8.43 per cent up at Rs 341. The scrip opened at Rs 337 and has touched a high and low 342.90 and Rs 333, respectively, in trade so far. The benchmark BSE Sensex was trading 220.07 points up at 24,938.06
“This is a good opportunity for Cupid to participate in the UNFPA’s worldwide procurement program,” said Om Gard, chairman and managing director, Cupid Ltd.
In the past one year, the share price of Cupid surged 318 per cent to Rs 314.50 till March 11, whereas the BSE Sensex slid 13.75 per cent during the same period.
For the quarter ended December 2015, the company posted net profit of Rs 4.20 crore, up 48.55 per cent, against Rs 2.82 crore in the same quarter last year.