Caplin Point Lab surges 15% on strong Q4 results

The stock hit a 52-week high of Rs 467 after the company posted 114% growth in profit at Rs 33 cr

Caplin Point Laboratories surged 15% to Rs 467, also its 52-week high, on BSE in early morning trade  after the company more than doubled its consolidated net profit at Rs 33 crore in March quarter (Q4FY17), on the back of strong revenue growth. The pharmaceutical company had reported profit of Rs 16 crore in the same quarter a year ago.

Gross revenues during the quarter under review increased by 47% to Rs 121 crore against Rs 82 crore in the corresponding quarter of previous fiscal.

Earnings before interest, tax, depreciation and amortization (EBITDA) margin improved to 40% from 27% in Q4FY16.

The company said it has received the US Food and Drug Administration (US FDA) approval for injectable site at Chennai (CP-4).

The board has recommended a Dividend of 75% (i.e) Rs 1.50 paise per equity share at the face value of Rs 2 each for the financial year ended March 31, 2017.

At 09:29 am; the stock was up 9% at Rs 443 on BSE as compared to 0.22% rise in the S&P BSE Sensex. The trading volumes on the counter more than doubled with a combined 303,446 shares changed hands on the BSE and NSE so far.