By Yi Wei Wong
WuXi AppTec Co. reported that its net profit more than quadrupled in the first quarter, buoyed by higher revenue and investment gains.
The China-listed pharmaceutical company said late Thursday that its first-quarter net profit rose to 1.50 billion Chinese yuan ($231.8 million), from CNY303.0 million in the same period last year.
Revenue rose to CNY4.95 billion in the first quarter from CNY3.19 billion reported last year.
Investment gains rose by CNY841.9 million during the period, the company said.
Write to Yi Wei Wong at firstname.lastname@example.org
(END) Dow Jones Newswires