Stellar performance: Q1FY24 net profit skyrockets by 100 per cent; pharma stock hits back-to-back 52-week high!
The stock has experienced significant buying activity, soaring by over 70 per cent in the past 1 year.
On August 02, 2023, Trident Lifeline Limited's shares dazzled with a soaring 14.26 per cent increase and the stock hit a fresh 52-week high mark of Rs 229.50 per share on BSE. Furthermore, the scrip witnessed spurt in volume by more than 2.87 times. The company's current market capitalization is Rs 4,336.19 crore.
This surge in shares and high trading activity was mainly because the company reported excellent Q1FY24 results, details as follows:
The company's total revenue witnessed a substantial increase of 50 per cent YOY, reaching Rs 8.97 crore.
Despite the rise in expenses, the company achieved remarkable EBITDA growth, which stood at Rs 2.09 crore, reflecting a significant 140 per cent YOY increase.
The most noteworthy aspect of the company's performance lies in its remarkable profit growth. Trident Lifeline Limited reported a profit before taxes (PBT) of Rs 1.86 crore, marking an outstanding 166 per cent growth.
The net profit stood at Rs 1.40 crore, showcasing an impressive 100 per cent increase. This significant profit growth signifies the company's successful business strategies and efficient operations.
Furthermore, the company's EPS also witnessed a positive surge of 39 per cent, with the current EPS standing at Rs 1.22 in Q1FY24 compared to Rs 0.88 in Q1FY23.
Overall, Trident Lifeline Limited's Q1FY24 financial performance demonstrates its strong market position and ability to capitalize on growth opportunities in the pharmaceutical industry.
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Trident Lifeline Limited, established in 2014, operates in the pharmaceutical industry, specializing in marketing pharmaceutical products both in domestic and international markets. Additionally, the company plays a pivotal role in the distribution of pharmaceutical products through a third-party distribution network. Trident Lifeline Limited is an integral part of the well-established Trident Texofab Group.
The stock has experienced significant buying activity, soaring by over 70 per cent in the past 1 year.
Keep a close eye on this trending stock.
Disclaimer: The article is for informational purposes only and not investment advice.