The pharmaceutical company had posted profit of Rs 23.33 crore in the same quarter last fiscal.
Total income from operations increased 21% at Rs 2,113 crore on YoY basis. EBITDA (earnings before interest, tax, depreciation and amortisation) margin expanded 90 basis points to 23.2% in Q2FY17.
Earlier this month, Shilpa Medicare said that its UK subsidiary Koanna Healthcare Limited has received marketing authorizations from the UK Medicines and Healthcare products Regulatory Agency (UK MHRA) for the IMATINIB TABLETS in multiple strengths of 100 mg and 400 mg.
The marketing authorization application for this generic product is made through decentralized procedure in 15 EU member states, which involves major European countries like UK, Germany, Netherlands, France, Czech Republic, Belgium, Ireland, Romania etc. Out of 15 member states the first approval is received from UK MHRA. Approvals from remaining member states will follow, it added.
Thus far in the calendar year 2016, the stock outperformed the market by surging 35% against 1% rise in the S&P BSE Sensex.
The trading volumes on the counter more than doubled with a combined 276,314 shares changed hands on the BSE and NSE till 10:37 am.