Coral Laboratories hits 52-week high after reporting turnaround Q4 numbers

Coral Laboratories surged 18.77% to Rs 535.90 after the company reported consolidated net profit of Rs 5.78 crore in Q4 FY24 as compared with net loss of Rs 0.89 crore in corresponding quarter last year.

Revenue from operations soared to Rs 28.88 crore in Q4 FY24 as against 11.43 crore in Q4 FY23.

Pre-tax profit was Rs 7.83 crore as compared with pre tax loss of Rs 1.62 crore in same quarter last year.

Total expenses jumped 62.73% YoY to Rs 23.14 crore in Q4 FY24. Cost of material consumed stood at Rs 13.10 crore (up 149.05% YoY), employee benefit expenses was at Rs 3.34 crore (up 28.96% YoY) during the period under review.

On full year basis, the companys consolidated net profit surged to Rs 15.78 crore in FY24 as compared with Rs 6.44 crore in FY23. Revenue from operations increased 7.11% YoY to Rs 83.66 crore in FY24.

Coral Laboratories engaged into the manufacturing of pharmaceutical formulations. The company manufactures Generic Branded, Herbal Medicines, etc. in the product categories of Non-Sterile, Sterile, Nutraceuticals, Otc + Lifestyle.

The counter hit 52 week high at Rs 541.40 in intraday today. It has market cap of Rs 190.78 crore.

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