Unichem Lab hits life high on turnaround Q4 numbers

Unichem Laboratories was locked in an upper circuit of 20% at Rs 559.30 after the company reported consolidated net profit of Rs 83.99 crore in Q3 FY24 as against net loss of Rs 63.93 crore in Q3 FY23.

Revenue from operations jumped 43.6% year on year (YoY) to Rs 434.38 crore in the quarter ended 31 March 2023.

The durg maker recored profit before exceptional item and tax of Rs 15.95 crore in Q3 FY24 as compared with loss before exceptional item and tax of Rs 61.28 crore in Q3 FY23.

The firm reported an expectional gain of Rs 68.01 crore on account of disposal of investment and property, plant and equipment.

Total expense increased 13.04% to Rs 429.70 crore in Q3 FY24 over Q3 FY23. Cost of materials consumed was at Rs 193.92 crore (up 51.92% YoY) while employee cost stood at Rs 98.11 crore (up 8.33% YoY).

On nine-months basis, the firm posted consolidated net profit of Rs 58.83 crore in 9M FY24 as against net loss of Rs 157.96 crore in 9M FY23. Net sales rose 35.31% YoY to Rs 1,273.19 crore in 9M FY24.

Unichem Laboratories is a pharmaceutical company. It addresses the needs of therapeutic areas like gastroenterology, cardiology, diabetology, psychiatry, neurology, anti-bacterials, anti-infectives and pain management.

The counter hit a record high at Rs 559.30 in todays intraday session.

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