Lyka Labs surges as board mulls sale of manufacturing facilities

Lyka Labs rose 3.65% to Rs 15.60 at 10:53 IST on BSE after the company said its board of directors at a meeting held on Monday, 14 July 2014, considered sale of manufacturing facilities of formulations at Tarapur, Maharashtra.

The announcement was made after market hours on Monday, 14 July 2014.

Meanwhile, the S&P BSE Sensex was up 195.38 points or 0.78% at 25,202.36.

On BSE, so far 7,255 shares were traded in the counter as against average daily volume of 30,000 shares in the past two weeks.

The stock hit a high of Rs 15.70 and a low of Rs 15.10 so far during the day.

Lyka Labs reported a consolidated net profit of Rs 17.64 crore in Q4 March 2014 as against net loss of Rs 7.44 crore in Q4 March 2013. Net sales declined 6.1% to Rs 29 crore in Q4 March 2014 over Q4 March 2013.

Lyka Labs' products encompass a wide range of therapeutic segments which include anti-bacterials, anti-tubercular, anti-cancer, anti-ulcerants, dermatological, cardiovascular, cough and cold preparations, pain management etc. Lyka is also into contract manufacturing of products for overseas buyers.

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