Bal Pharma Stock Up 20% in ONE DAY: Did They Find a Miracle Drug?
Bal Pharma’s stock price jumped 20% after the company reported strong financial results for Q4 FY24. Profits rose significantly, while revenue and expenses also increased. The company also declared a dividend.
CONTENTS: Bal Pharma Stock Up 20% in ONE DAY
Bal Pharma Stock Up 20% in ONE DAY
Bal Pharma saw its shares surge by 20% to reach Rs 120.18 following a substantial increase in the company’s consolidated net profit, which rose to Rs 5.53 crore in Q4 FY24 from Rs 1.61 crore in Q4 FY23. The revenue from operations also saw a significant rise, increasing by 14.76% year-on-year to Rs 94.62 crore in Q4 FY24. The profit before tax experienced a notable boost, climbing to Rs 5.75 crore in Q4 FY24 compared to Rs 2.41 crore in the same quarter the previous year.
Total expenses went up by 13.84% to Rs 91.32 crore in Q4 FY24, up from Rs 80.22 crore in Q4 FY23. Specific costs contributing to this increase included the cost of materials consumed, which rose by 2.45% year-on-year to Rs 51.90 crore, employee benefit expenses, which grew by 6.84% to Rs 15.63 crore, and finance costs, which increased by 7.27% to Rs 4.13 crore during this period.
Bal Pharma dividend up, strong performer
Meanwhile, the company’s board has announced a dividend of Rs 1.20 per equity share. Bal Pharma, a prominent Indian pharmaceutical company with 25 years of experience, specializes in prescription drugs, generic and OTC products, intravenous infusions, and bulk actives.
The company primarily exports its APIs to Europe, the Far East, Latin America, Africa, the Middle East, and other global markets. Its finished dosage forms (FDFs) are exported to semi-regulated and non-regulated markets, with plans to enter regulated markets. Additionally, Bal Pharma is a strong contender in the global tender business.
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