Microcap research-driven pharma stock is in focus as it hit 20% upper circuit after reporting its Q3 results with impressive growth in its net profits.
Share Price Movement
With a market capitalization of ₹469 Crore, the stock of Venus Remedies Limited opened at ₹329, up 12.38 % from yesterday’s closing price. After opening the stock quickly went up to hit 20% upper circuit at 351.30 Additionally, the 1 month’s return for the stock is 16 %, and the past year’s return is at -9 %.
Q3FY25 Results
The company reported a 23.31 % YoY increase in revenue from ₹143.42 Crore in Q3FY24 to ₹176.86 Crore in Q3FY25. On a QoQ basis, the company reported an increase of 5.32 % in revenue from ₹167.45 Crore in the previous quarter.
Their Net profit saw an increase of 186.12 % YoY from ₹6.85 Crore to ₹19.60 Crore for the same period. On a QoQ basis, the company reported an impressive increase of 458.40 % in revenue from ₹3.51 Crore in the previous quarter.
Update from Company
The Board of the company has resolved to write off time-bared unsecured Foreign Currency Convertible (FCCB) liability of ₹38.68 Crore including interest, which has remained unclaimed for over 10 years and is no longer legally enforceable under applicable laws.
The amount of FCCB liability of ₹28.77 Crore has been transferred to the Capital Reserve, while the accrued interest of ₹9.91 Crore being revenue in nature has been recognized as an exceptional item.
About the Company
Venus Remedies Limited is an Indian pharmaceutical company specializing in critical care medicines, oncology, antibiotics, and pain management drugs. Established in 1989, the company has a presence in over 96 countries and is known for manufacturing advanced antimicrobial and cancer treatment solutions. With a strong focus on research and innovation, Venus Remedies develops cutting-edge therapies to combat antimicrobial resistance (AMR) and improve global healthcare.
Written By Abhishek Das
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