Moneycontrol
Get App
Last Updated : Feb 12, 2020 11:08 AM IST | Source: Moneycontrol.com

Alkem Labs share price gains 2% on nod for Baddi unit

German drug regulator had audited Alkem's Baddi unit on November 26, 2019.

Representative image
Representative image
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Shares of Alkem Laboratories gained 1.6 percent intraday on February 12 after a media report indicated that the company's Baddi unit received approval from German health regulator.

The stock was one of the biggest gainers among pharma stocks in the last three months, rallying 36 percent. It was quoting at Rs 2,669.90, up Rs 36.70, or 1.39 percent on the BSE at 10:33 hours.

The company's Baddi unit has received approval from the German health regulator to export some drugs, reported Cogencis.

Close

The German drug regulator had audited Alkem's Baddi unit on November 26, 2019.

Meanwhile, the company had reported a healthy 88.60 percent year-on-year growth in consolidated profit at Rs 381.98 crore for the quarter ended December 2019, driven by lower tax expenses, higher other income and operating income.

Consolidated revenue during the quarter grew by 13.3 percent YoY to Rs 2,181.84 crore, while earnings before interest, tax, depreciation and amortisation climbed 44.6 percent YoY to Rs 453.2 crore and margin expanded 450 bps to 20.8 percent in Q3FY20.

Moneycontrol Ready Reckoner
Now that payment deadlines have been relaxed due to COVID-19, the Moneycontrol Ready Reckoner will help keep your date with insurance premiums, tax-saving investments and EMIs, among others.
Get best insights into Options Trading. Join the webinar by Mr. Vishal B Malkan on May 28 only on Moneycontrol. Register Now!

First Published on Feb 12, 2020 11:08 am
Sections
Follow us on