Alembic Pharma hits new high on robust Q4 earnings
Operating profit margin expanded by 560 bps at 17.34%, much higher than analyst expectation of 14.6%.
Alembic Pharmaceuticals has rallied 9% to Rs 127, also its lifetime high on BSE, on reporting more-than-double consolidated profit at Rs 43.65 crore for the quarter ended March on back of higher than expected rise in the sales and significant reduction in the interest expenditures. The pharmaceutical company had profit of Rs 20.31 crore in a year ago quarter.
The company’s total income from operations grew 11% year-on-year at Rs 378 crore, while interest burden reduced to Rs 1.83 crore from Rs 5.38 crore during the recently concluded quarter.
Operating profit margin (OPM) expanded by 560 bps at 17.34%, much higher than analyst expectation of 14.6%.
Analyst at Angel Broking recommends a BUY on stock with a revised target of Rs 139.
The stock opened at Rs 118 and has seen a combined 862,778 shares changing hands on the counter so far on BSE and NSE.
The company’s total income from operations grew 11% year-on-year at Rs 378 crore, while interest burden reduced to Rs 1.83 crore from Rs 5.38 crore during the recently concluded quarter.
Operating profit margin (OPM) expanded by 560 bps at 17.34%, much higher than analyst expectation of 14.6%.
Analyst at Angel Broking recommends a BUY on stock with a revised target of Rs 139.
The stock opened at Rs 118 and has seen a combined 862,778 shares changing hands on the counter so far on BSE and NSE.