Hikal hits record high after Q1 PAT rises more than threefold

Hikal jumped 9.29% to Rs 603.75 after the company's consolidated net profit increased by 3.369 times to Rs 50.54 crore in Q1 FY22 from Rs 15 crore in Q1 FY21.

Total revenue from operations increased by 29.5% YoY to Rs 456.78 crore in the first quarter.

On the segmental front, Pharmaceuticals revenue was Rs 274.07 crore (up 28.3% YoY) and Crop protection revenue was Rs 182.71 crore (up 31.3% YoY) in Q1 FY22.

Profit before tax in Q1 FY22 stood at Rs 68.39 crore, which is higher by 3x as compared with Rs 22.79 crore in Q1 FY21.

While the company's net profit has remained flat, total revenue from operations has declined by 14.2% in Q1 FY22 over Q4 FY21.

On the BSE, 1.88 lakh shares were traded in the counter so far compared with average daily volumes of 39,432 shares in the past two weeks.

Following the result announcement, the scrip surged 11.33% to hit the day's high at 615.05, which is a record high for the counter.

Hikal is engaged in the manufacturing of various chemical intermediates, specialty chemicals, active pharmaceutical ingredients (APIs) and contract research activities.

Powered by Capital Market - Live News