Explosive growth alert: Smallcap pharma rockets 10 per cent hits record 52 week high on stellar quarterly performance

Over the past six months the company's shares have generated a stellar return of 75.54 per cent while during the same time frame BSE Healthcare has risen by 23.86 per cent

Caplin Point Laboratories Ltd which is in the business of pharmaceutical formulations surged by 10 per cent and hit a fresh 52-week high today after declaring strong financial results. In today's session, BSE Healthcare was trading in the green up by 0.26 per cent.

Talking about the financials on a consolidated basis, in Q2FY24 the company recorded a robust financial performance with a 26.20 per cent year-on-year increase in net profit reaching Rs 116.14 crore compared to Rs 92.03 crore in the corresponding quarter of the previous year. During the second quarter of FY24 the company's total net revenue showed an increase of 14.64 per cent from Rs 375.53 crore to Rs 430.49 crore compared to the same quarter in the preceding year.

Sequentially, the net profit for the quarter ending on September 30, 2023, showed an increase of 11.43 per cent from Rs 104.23 crore. However, in Q2FY24, the company's total net revenue registered an increase of 5.68 per cent compared to the previous quarter settling at Rs 407.36 crore.

Yesterday the shares of the company closed at Rs 1099. Today it opened at Rs 1132.95 and currently is trading at Rs 1198.50, marking a 9.05 per cent increase. Today the shares of the company have hit a fresh 52-week high at Rs 1229 and its 52-week low stands at Rs 575. The company currently holds a market capitalization of approximately Rs 9,000 crore. Over the past six months the company's shares have generated a stellar return of 75.54 per cent while during the same time frame BSE Healthcare has risen by 23.86 per cent.

Caplin Point Laboratories Ltd is engaged in the manufacturing and sourcing of APIs, finished formulations, R&D, clinical research with a presence in Latin America, Africa, the USA, and other nations.Top of Form

Disclaimer: The article is for informational purposes only and not investment advice.