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Morepen Laboratories hits 52-week high on good Q2 results

The stock surged 16% to Rs 21.40, also its 52-week high on the NSE.

Morepen Laboratories hits 52-week high on good Q2 results

Morepen Laboratories has surged 16% to Rs 21.40, also its 52-week high on the NSE, after the company reported an over 10-fold jump in net profit at Rs 3.22 crore for the quarter ended September 30, 2015 (Q2), on back improvement in sales revenues. The small-sized pharmaceutical company had profit of Rs 31 lakh in the same quarter year ago. The company’s net income from operations rose by 24% in Q2 at Rs 113 crore from Rs 91.18 crore in the corresponding quarter of previous fiscal. The cash surplus (EBDA) has also shown a significant rise of 49% YoY at Rs 12.74 ...