Morepen Labs gains after declaring Q4 result

Morepen Laboratories rose 4.19% to Rs 31.05 after the company's consolidated net profit rose 5.1% to Rs 11.02 crore on a 5.5% fall in net sales to Rs 206.60 crore in Q4 FY20 over Q4 FY19.

Profit before tax stood at Rs 11.36 crore in Q4 March 2020, up 6.2% from Rs 10.70 crore in Q4 March 2019.

EBIDTA in the fourth quarter fell 9.5% to Rs 20.61 crore from Rs 22.78 crore reported in the same period last year.

Sushil Suri, chairman and managing director, Morepen Laboratories, said impact of COVID-19 and the subsequent lockdown in the entire country has been mitigated by the company to a large extent by its timely launch of various new products in the personal hygiene and protection segment.

The company's board also approved incorporation of two wholly owned subsidiaries to focus on finished dosages business and its new initiatives of online business in the health & beauty segment.

Morepen Laboratories is a pharmaceutical and healthcare products company. Morepen is engaged in the manufacturing and sale of APis/ Bulk Drugs, Home Diagnostics, Formulations and OTC products.

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