Shares of RPG Life Sciences scaled a 52 week-high on Monday after the company’s net profit for the June quarter jumped 22 percent over last year to Rs 22 crore.
At 1pm, the stock was quoting Rs 1078.20 apiece, up by Rs 38.75, or 3.73 percent, on the NSE.
RPG Life Sciences on Friday reported a 15 percent year-on-year (YoY) increase in revenue from operations for Q1FY24 at Rs 148 crore as compared to Rs 129 crore reported in Q1FY23.
EBITDA (Earnings-before-interest-taxes-depreciation and ammortisation) for Q1FY24 stood at Rs 34 crore, a 17 percent increase YoY from Rs 29.1 crore reported in Q1FY23. The EBITDA margins widened marginally by 50 basis points to 23 percent in the quarter under review.
“In Q1 FY24, the overall performance of the company continued to be strong, despite the ongoing geo-political challenges impacting supply chain and costs. Domestic formulations business, the biggest contributor to the company’s business, recorded robust growth both in value and volume - significantly and consistently ahead of the market,” Yugal Sikri, Managing Director of the company said.
“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,” Sikri added.
RPG Life Sciences is a pharmaceutical company engaged in the business of manufacturing and marketing pharmaceutical products. The company operates in various therapeutic areas, offering a range of formulations and active pharmaceutical ingredients (APIs). Its operations encompass research and development, manufacturing and distribution of pharmaceutical products. RPG Life Sciences operates out of its two manufacturing facilities in Gujarat and one API facility in Navi Mumbai.
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