Thyrocare Tech moves up on strong Q2 results

Thyrocare Technologies rose 1.44% to Rs 677.50 at 10:25 IST on BSE after consolidated net profit spurted 2007.7% to Rs 24.66 crore on 12.7% rise in net sales to Rs 88.04 crore in Q2 September 2017 over Q2 September 2016.

The result was announced on Saturday, 9 December 2017.

Meanwhile, the S&P BSE Sensex was up 148.36 points or 0.45% at 33,398.66. The S&P BSE Mid-Cap index was up 50.82 points or 0.3% at 17,095.18, underperforming the Sensex.

On the BSE, 980 shares were traded in the counter so far as against average daily volume of 31,033 shares in the past two weeks. The stock had hit a high of Rs 687.80 and a low of Rs 675 so far during the day. The stock had hit a record high of Rs 779.90 on 6 April 2017. The stock had hit a 52-week low of Rs 611.10 on 5 December 2017.

The stock had underperformed the market over the past one month till 8 December 2017, falling 1.07% compared with the Sensex's 0.09% rise. The stock had also underperformed the market over the past one quarter, sliding 1.61% as against the Sensex's 4.93% rise. The scrip had also underperformed the market over the past one year, rising 1.27% as against the Sensex's 24.56% rise.

The mid-cap company has equity capital of Rs 53.72 crore. Face value per share is Rs 10.

The board of directors of Thyrocare Technologies has decided to defer a decision on payment of interim dividend pending assessment of requirement of funds to meet the capex requirements of the wholly-owned subsidiary, Nueclear Healthcare, since the company has already decided to give them loan to help them acquire costly equipment like Cyclotron, PET-CT Scan machines, etc., to set up additional scanning centres.

The board has also decided to invest upto Rs 20 crore in Equinox Labs, Navi Mumbai, by Rs 10 crore in cash and by divestment of water testing business to them for Rs 10 crore, on slump sale basis.

Thyrocare Technologies is one of the leading pan-India diagnostic chain operators. It conducts an array of medical diagnostic tests and profiles of tests that center on early detection and management of disorders and diseases, including thyroid disorders, growth disorders, metabolism disorders, auto-immunity, diabetes, anemia, cardiovascular disorders, infertility and various infectious diseases.

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