Neuland Laboratories, the Hyderabad based pharma major, worth Rs 4865 crore plus has recorded a strong net profit growth of 33 per cent during the first quarter ended 30th June 2016 to Rs 9.71 crores from Rs.7.30 crores in the corresponding period of the previous year. Its net sales also increased by 22.2 per cent to Rs 145.58 crores from Rs 119.12 crores. With improved profit, the EPS also moved up to Rs 10.93 from Rs 8.22 in the last period.
Currently Neuland Lab share price is trading at Rs 1,024.00, up by 6.11 per cent. The share price opened at Rs 965.05 and soared straight up to Rs 1,029.95 to make its intraday high. The intraday low is Rs 965.05. See the historical share price performance of the share at Neuland Lab share price history.
For the full year, Neuland's net sales reached at Rs 486 crores and it earned a net profit of Rs 26.41 crores with EPS of Rs 29.73. Currently, Neuland scrip is moving in the range of Rs 945 to Rs 960 on Bombay Stock Exchange with market capitalization of Rs.850 crores. Its equity capital stood at Rs 8.95 crores as at the end of March 2016 and the reserves & surplus worked out to Rs 174.38 crores.
The company has entered into a joint development agreement (JDA) with Phoenix Embassy Techno Zone Pvt Ltd for the development of the land owned by the company at Nanakramugda, Hyderabad. In terms of the said JDA, the company would be entitled to receive app. 23 per cent of share of the total saleable area of the proposed project, which would be duly determined on the basis of an approval of the building plans by the authorities concerned.
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