RPG Life share price soared over 7 per cent after the company’s net sales for the second quarter ended September 2016 (Q2) stood at Rs 76.38 cr, a growth of 22 per cent, while operating profit at Rs 4.28 cr, demonstrates a growth of 39 per cent on a like-to-like basis i.e., without including the biotech business that was sold to Intas Pharmaceuticals.
A company statement said that the company's net profit for the quarter which stood at Rs 10.25 cr, includes an exceptional profit of Rs 7.38 cr on the back of sale of the biotech business which was concluded at the end of Q1 - first quarter.
In another deal, the asset purchase agreement for purchase of 7 brands from Sun Pharmaceuticals, was concluded on Friday, and the commercialisation of these brands will start from this quarter.
CT Renganathan, Managing Director RPG Life Sciences said that he was glad to report another quarter of above industry performance. He continued that it reflected the many strategic changes that they had undertaken over the last 18 months. The sale of biotech business and the acquisition of 7 brands from Sun Pharmaceutical Industries were steps towards strengthening their business. He added that the consistent strong performance gave them confidence that they were on the right direction. He concluded that they remain focused on growing their domestic and international formulations business. In fact, the international formulations business had grown at 124 per cent in the first half on account of new customers and novel approvals.
According to Dynamic Levels Research Analysts, RPG Life Sciences is a multibagger stock and has the potential to give very good returns. To seek information on the resistance and support levels of the scrip and know more about its fundamentals and financials, please pay a visit to RPG Life share price history.
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