Neuland Laboratories dips 8% on disappointing Q2 earning

The stock dipped 8% to Rs 1,175 on the BSE in intra-day trade after the company reported 75% decline in its standalone net profit at Rs 2.59 crore in September quarter.

Neuland Laboratories has dipped 8% to Rs 1,175 on the BSE in intra-day trade after the company reported 75% decline in its standalone net profit at Rs 2.59 crore in September quarter (Q2FY18), due to lower sales. The pharmaceutical company had profit of Rs 10.23 crore in the same quarter year ago.

Total operating income decreased by 17% to Rs 126 crore in Q2FY18, as compared to Rs 152 crore in the corresponding period of the previous year. EBITDA (earnings before interest, taxes, depreciation and amortization) margin fallen to 11.6% in Q2FY18 as against 16.6% in Q2FY17.

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