Neuland Labs zooms 53% in 7 days as net profit more-than-doubles in Q3

The change in business mix with increasing amount of margins coming from CMS business and certain Specialty products and cost optimization measures helped improve profitability

Shares of Neuland Laboratories hit a fresh record high of Rs 1,965, up 16 per cent on the BSE, in the intra-day trade on Tuesday on the back of heavy volumes. In the past seven trading days, the stock of the pharmaceuticals company has soared 53 per cent after the company's net profit more-than-doubled at Rs 26.7 crore for the quarter ended December 2020 (Q3FY21) on the back of strong operational performance. It had reported a profit of Rs 11 crore in the year-ago quarter.

In Q3FY21, the company's Ebitda (earnings before interest, taxes, depreciation, and amortisation) jumped 60.6