Shares of RPG Life Sciences scaled a lifetime high of Rs 1,497.95 after the pharma company reported a 30 percent surge in net profit over last year.
At 12.40pm, shares of the company were trading at Rs 1424, up by 1.29 percent on the BSE.
The drug maker has registered a 29.5 percent on-year growth in the bottomline at Rs 25.86 crore for quarter ended September FY24. Its profit was driven by a healthy topline and operating performance.
Follow our market blog for live updates
Revenue for the quarter reached Rs 153.58 crore, 14 percent higher than the corresponding quarter last year. The EBITDA jumped 25.3 percent to Rs 37.3 crore from Rs 29.8 crore a year ago and EBITDA margin stood at 24.3 percent as against 22.1 percent in Q2FY23.
The biggest contributor to the business was the domestic formulations segment, which recorded robust growth both in value and volume. RPG Life Sciences’ foray into rheumatology has strengthened its specialty segment.
The international formulations business has also shown robust growth in sales and profits, while emerging as another driver for the firm. The API business also performed well, clocking a significant margin improvement.
“The company is investing in plant modernisation and capacity expansion in both plants, as well as working on building a healthy product pipeline to accelerate exports of both formulations and API. Our relentless focus on achieving cost-efficiencies in our operations, and eye on sales hygiene, is helping us to consistently improve our margins,” RPG Life Sciences said in an exchange filing.
A subsidiary of RPG Enterprises, RPG Life Sciences is an integrated pharmaceutical company, operating in the domestic and international markets in the branded formulations, global generics and synthetic APIs space.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
