Neuland Laboratories shares rise after June-quarter profit surges nearly 10-fold

Shares of Neuland Laboratories rose over 6% to Rs 21,200 on the BSE on Thursday after the company reported a sharp jump in its June quarter earnings. Its profit after tax surged 975% year-on-year to Rs 147.4 crore in Q1 FY27, compared with Rs 13.7 crore a year ago.The company released its Q1 results in the post-market hours on Wednesday.Total income of the company stood at Rs 650.1 crore, up 116.3% from Rs 300.6 crore in the corresponding quarter of the previous year. The company’s EBITDA saw a 448.2% year-on-year jump to Rs 231.1 crore, as compared to Rs 42.1 crore in the June quarter of the previous year.CEO & MD Saharsh Davulur said that the revenue for this quarter was driven by commercial products. “Q1 FY27 was broadly in line with the company’s expectations, with encouraging performance from both CMS & GDS businesses, representing a good start to the year.” He said, adding that the company is seeing exciting developments in terms of the pipeline projects.“The depth of customer conversations today is significantly stronger, and we are increasingly engaging in broader capability-led discussions rather than individual projects alone. Internally our focus now is on ensuring that we deliver consistently, build customer confidence and establish the foundation for long-term partnerships. Even as we have invested significantly over the last three years and all our significant Capex projects are proceeding according to plan, I believe the intensity of our investments will further increase based on the opportunities that are available to us.” He stated, as per the filing.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

Neuland Laboratories shares climbed as much as 7% after the drugmaker reported a more than 10-fold rise in Q1 net profit to Rs 147.7 crore