Neuland Labs zooms 20% on robust December quarter results

The stock is locked in upper circuit of 20 per cent at Rs 588 on the BSE after the company reported an over six-fold jump in net profit at Rs 4.6 crore in December 2018 quarter.

Shares of Neuland Laboratories have locked in upper circuit of 20 per cent at Rs 588 apiece on the BSE after the company reported an over six-fold jumped in net profit at Rs 4.6 crore in December 2018 quarter (Q3FY19). The pharmaceutical company had a profit of Rs 0.74 lakh in the year-ago quarter.

Total revenue grew 40 per cent at Rs 172 crore against Rs 123 crore in the corresponding quarter of previous fiscal. Ebitda (earnings before interest, taxation, depreciation and amortisation) margin improved 100 basis points to 9.5 per cent from 8.5 per cent in the previous year quarter.