 "Hester Biosciences surges on healthy Q4 results")
Hester Biosciences has surged 19% to Rs 630 on the BSE in early morning trades after the company reported 56% year on year (YoY) growth in net profit at Rs 55 crore for the quarter ended March 31, 2016 (Q4FY16), on back of healthy operational income. The pharmaceutical company reported a profit of Rs 35 crore in the same quarter an year ago.
Net sales grew 21% at Rs 282 crore on (YoY) basis. Earnings before interest, taxes, depreciation, and amortization (EBITDA) margins improved to 34.6% in Q4FY16 from 28.05% in Q4FY15.
Net sales grew 21% at Rs 282 crore on (YoY) basis. Earnings before interest, taxes, depreciation, and amortization (EBITDA) margins improved to 34.6% in Q4FY16 from 28.05% in Q4FY15.
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The company said the main drivers for the improvement in the bottom line have been better inventory management, stricter credit controls and the shift in the product mix.
Trial production has commenced at the Nepal Plant and the commercial production would commence from August 2016, it added.
At 10:25 am, the stock was up 16% at Rs 618 on the BSE. A combined 38,861 shares changed hands on the counter on the BSE and NSE.
