Granules India has surged 8% to Rs 286 on back of heavy volumes on the bourses. The stock opened at Rs 267 and touched a new high of Rs 291 on the BSE.
A combined 1.27 million shares have already changed hands on the counter till 1050 hours against an average sub 0.50 million shares that were traded daily in past two weeks on the BSE and NSE.
Shares of pharmaceutical company has rallied 36% from Rs 210 on January 27, after reported over three-fold rise in net profit at Rs 21.8 crore for the third quarter ended December 31, 2013, as against Rs 5.8 crore for the corresponding period last year.
Net sales of the company during the quarter rose by 45% at Rs 284 crore, as against Rs 195 crore last year. The EBITDA or operating margin increased by 630 bps yoy to 16%, Granules India said in a statement.
The growth was driven by strong performance across all manufacturing units, including the formulation facility at Gagillapur, near Hyderabad, which continued to scale up the production, it added.
A combined 1.27 million shares have already changed hands on the counter till 1050 hours against an average sub 0.50 million shares that were traded daily in past two weeks on the BSE and NSE.
Shares of pharmaceutical company has rallied 36% from Rs 210 on January 27, after reported over three-fold rise in net profit at Rs 21.8 crore for the third quarter ended December 31, 2013, as against Rs 5.8 crore for the corresponding period last year.
Net sales of the company during the quarter rose by 45% at Rs 284 crore, as against Rs 195 crore last year. The EBITDA or operating margin increased by 630 bps yoy to 16%, Granules India said in a statement.
The growth was driven by strong performance across all manufacturing units, including the formulation facility at Gagillapur, near Hyderabad, which continued to scale up the production, it added.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%