Aarti Drugs declines over 8% in four days

Aarti Drugs tumbled 4.68% to Rs 713.70, extending losses for fourth consecutive session.

The stock has slumped 8.25% in the four sessions from its recent closing high of Rs 778 recoded on 20 October 2020.

Aarti Drugs announced its September 2020 quarter earnings after market hours on Friday (23 September 2020).

On a consolidated basis, the company's net profit spurted 132.96% to Rs 75.27 crore on 21.07% increase in net sales to Rs 578.11 crore in Q2 September 2020 over Q2 September 2019.

Profit before tax (PBT) stood at Rs 97.12 crore, a 102% jump over Rs 47.87 crore reported in the same period last year. Total tax expense grew 40.5% year on year to Rs 21.85 crore in Q2 September 2020.

The board of the company has recommended an interim dividend of Rs 2.5 per equity share and has fixed 04 November 2020 as the record date for the purpose of payment of interim dividend.

The company's board also passed an enabling resolution for raising upto Rs 350 crore by issuing equity shares or any other instruments or security including fully/partly convertible debentures or by way of a composite issue of non-convertible debentures through qualified institutions placement, private placement/public issue of equity/debt securities or through any other permissible mode.

Aarti Drugs is a pharmaceutical company. The company has a strong presence in the anti-diarrhea, anti-inflammatory therapeutic groups.

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