Shilpa Medicare drops after reporting small rise in profitability in Q1

Shilpa Medicare dropped 8.32% to Rs 550 at 15:10 IST on BSE after net profit rose 9.07% to Rs 24.13 crore on 10.17% rise in total income to Rs 160.80 crore in Q1 June 2016 over Q1 June 2015.

The result was announced during market hours today, 26 August 2016.

Meanwhile, the S&P BSE Sensex was down 64.08 points or 0.23% at 27,771.83.

On BSE, so far 25,934 shares were traded in the counter, compared with an average volume of 22,153 shares in the past one quarter. The stock hit a high of Rs 612 and a low of Rs 547 so far during the day.

Ahead of the results, the stock had risen 6.4% in three sessions to settle at Rs 599.90 on 25 August 2016, from close of Rs 563.80 on 22 August 2016.

The mid-cap company has equity capital of Rs 7.71 crore. Face value per share is Re 1.

Shilpa Medicare is engaged in the business of bulk drugs manufacturing.

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