Aarti Drugs jumped 6.86% to Rs 570.45 after the company announced that its board will meet on Monday, 26 August 2024, to consider a proposal for buyback of fully paid-up equity shares of the company.
The announcement was made after market hours yesterday.
Aarti Drugs forms part of $6 Billion Aarti Group of Industries with robust R&D Division at Tarapur, Maharashtra Industrial Development Corporation (MIDC) in close vicinity to manufacturing locations. The company is engaged in the manufacturing of Active Pharmaceutical Ingredients (APIs), Pharma Intermediates, Speciality Chemicals and produces Formulations with its whollyowned subsidiary-Pinnacle Life Science Private.
The companys consolidated net profit declined 30.5% to Rs 33.24 crore on 16% slide in net sales to Rs 555.34 crore in Q1 FY25 over Q1 FY24.
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