FDC rises after completion of inspection by PIC/S Malaysia

FDC rose 1.68% to Rs 166.70 at 10:55 IST on BSE after the company said its non-sterile manufacturing facility located in Maharashtra had recently undergone an inspection by PIC/S Malaysia and it continues to be approved.

The announcement was made after market hours yesterday, 24 April 2019.

Meanwhile, the S&P BSE Sensex was up 127.48 points, or 0.33% to 39,182.16.

On the BSE, 7,191 shares were traded in the counter so far compared with average daily volumes of 72,000 shares in the past two weeks. The stock had hit a high of Rs 171 and a low of Rs 165.90 so far during the day. The stock hit a 52-week high of Rs 269.40 on 1 August 2018. The stock hit a 52-week low of Rs 148.20 on 15 February 2019.

FDC announced that its non-sterile manufacturing facility located at Waluj in Aurangabad (Maharashtra) had recently undergone an inspection by PIC/S Malaysia and it continues to be approved. Hence, the company continues to export oral liquid, oral powder and external powder products.

Net profit of FDC rose 2.46% to Rs 43.71 crore on 1.44% rise in net sales to Rs 252.34 crore in Q3 December 2018 over Q3 December 2017.

FDC manufactures and markets Oral Rehydration Salts (ORS) and Ophthalmics. FDC has also set-up globally approved, multi-location manufacturing facilities for active pharmaceuticals ingredients (APIs) as well as finished dosage forms.

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