Akums Drugs slips 3% after posting 66% decline in Q3 profits, rev down 7%

Akums Drugs and Pharmaceuticals shares slipped 3.2 per cent on Friday, logging an intraday low at Rs 555.65 per share on BSE. The stock dropped after the company posted weak set of Q3 numbers after market hours on Thursday. 

 

Around 11:57 AM, Akums Drugs shares were down 2.32 per cent at Rs 561.15 per share on BSE. In comparison, the BSE Sensex was down 0.29 per cent at 77,832.17. The market capitalisation of the company stood at Rs 8,832.16 crore. The 52-week high of the stock was at Rs 1,174.85 per share and the 52-week low was at Rs 526.55 per share. 

 

Akums Drugs reported a decline of 66 per cent year-on-year (Y-o-Y) to Rs 65.18 crore as compared to Rs 193.7 crore. Its revenue for the quarter under review stood at Rs 1,010.4 crore as compared to Rs 1,082.83 crore a year ago, a fall of 6.7 per cent.

 

The company's board also approved to incorporate subsidiaries in Europe on each in United Kingdom and Malta with the objective to enhance its export business and to register dossiers in its own name. The company to be incorporated are Akums Healthcare UK and Akums Healthcare Malta Ltd. The proposed subsidiaries will deal in trading and marketing of pharmaceuticals formulations. 

 

Akums Drugs is an Indian pharmaceutical company, established in 2004 and headquartered in Haridwar, Uttarakhand. Specialising in the manufacturing of a broad range of generic medicines, Akums produces formulations in various forms such as tablets, capsules, injectables, and syrups. The company is well-known for its contract manufacturing services, providing products for both global and Indian pharmaceutical companies. 

 

Akums operates multiple manufacturing facilities that adhere to global quality standards, including certifications from the USFDA, EMA, and WHO-GMP, which enable the company to export its products to over 50 countries worldwide. Their product portfolio spans across several therapeutic areas, including cardiology, oncology, and dermatology. With a strong emphasis on research and development, Akums continues to innovate and improve product quality.

 

In the past one year, Akums Drugs shares have lost 27.8 per cent against Sensex's rise of 8 per cent.