Neuland Labs soars 54% in two weeks post December quarter results

The stock rallied 18 per cent to Rs 760 on Monday, soaring 54 per cent in past two weeks on the BSE after the company reported an over six-fold jumped in net profit at Rs 4.6 crore in Q3FY19.

Shares of Neuland Laboratories rallied 18 per cent to Rs 760 apieceon Monday, soaring 54 per cent in the past two weeks on the BSE, after the company reported an over six-fold jump in net profit at Rs 4.6 crore in December 2018 quarter (Q3FY19). The pharmaceutical company had reported a profit of Rs 0.74 lakh in the year-ago quarter. In comparison, the S&P BSE Sensex was down 1 per cent during the same period.

Total revenue grew 40 per cent at Rs 172 crore against Rs 123 crore in the corresponding quarter of previous fiscal. Ebitda (earnings before