Pharma company Mangalam Drugs & Organics has reported strong earnings performance on Monday as profit in July-September quarter grew by 31.4 percent year-on-year to Rs 6.7 crore, driven by massive growth in operational income.
Profit in year-ago quarter stood at Rs 5.1 crore.
Revenue from operations during the quarter increased 8.8 percent to Rs 83.1 crore, compared with Rs 76.4 crore in corresponding period.
EBITDA (earnings before interest, tax, depreciation and amortisation) surged 39.8 percent year-on-year to Rs 14.8 crore and margin expanded sharply by 390 basis points to 17.8 percent for quarter ended September 2017.
Mangalam Drugs is engaged in the business of manufacturing of active pharmaceutical ingredients (APIs), intermediates and specialty chemicals.
At 13:50 hours IST, the stock price was quoting at Rs 158.05, up Rs 5.85, or 3.84 percent on the BSE.
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