RPG Life Science spurts after selling surplus land

The announcement was made after market hours on Thursday, 6 June 2013.

Meanwhile, the S&P BSE Sensex was down 21.31 points, or 0.11%, to 19,498.18.

On BSE, 47,645 shares were traded in the counter as against an average daily volume of 3,657 shares in the past one quarter.

The stock hit a high of Rs 73.90 and a low of Rs 69 so far during the day. The stock had hit a 52-week high of Rs 94.80 on 4 December 2012. The stock had hit a 52-week low of Rs 48.10 on 13 March 2013.

The stock had outperformed the market over the past one month till 6 June 2013, rising 6.58% compared with the Sensex's 0.78% fall. The scrip had also outperformed the market in past one quarter, rising 23.42% as against Sensex's 1.39% rise.

The small-cap company has an equity capital of Rs 13.23 crore. Face value per share is Rs 8.

RPG Life Sciences (RPGLS) has sold the leasehold rights of its surplus land admeasuring 14,149 square metres in Navi Mumbai for Rs 76.91 crore to Maruti Suzuki India.

The proceeds from the transaction will be used for reducing the company's debt and investing in projects, said Ajit Singh Chouhan, managing director of RPGLS.

RPG Life Sciences reported net profit of Rs 7.40 crore in Q4 March 2013 as against net loss of Rs 5.69 crore in Q4 March 2012. Net sales rose 36.65% to Rs 56.34 crore in Q4 March 2013 over Q4 March 2012.

RPG Life Sciences is an integrated pharmaceutical company operating in the domestic and international markets in the Branded Formulations, Global Generics, Synthetic and Fermentation APIs space. The company is a research-based pharmaceutical company producing a wide range of medicines.

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