{"id":118507,"date":"2024-02-02T16:16:17","date_gmt":"2024-02-02T10:46:17","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=118507"},"modified":"2024-02-02T16:39:51","modified_gmt":"2024-02-02T11:09:51","slug":"pharma-stock-hits-52-week-high-after-net-profits-of-the-company-increases-by-256-yoy","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/pharma-stock-hits-52-week-high-after-net-profits-of-the-company-increases-by-256-yoy\/","title":{"rendered":"Pharma stock hits 52-week high after net profits of the company increases by 256% YoY\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2885338675\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Shares of this pharma stock under the \u2018small-cap\u2019 category jumped up to 2 percent in Friday\u2019s trading session after the company reported financial results for the quarter ended December 2023.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1731181883\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>With a market capitalization of Rs 2,705.62 crores, the stocks of Morepen Laboratories Limited started their trading session on Friday at Rs 53.55 and currently trade at Rs 53.20.\u00a0<\/p><p>The company\u2019s scrip witnessed an intra-day high, also marked as the fresh 52-week, of Rs 56.19 exhibiting a gain of around 2 percent compared to the previous closing levels of Rs 52.98 apiece.&nbsp;<\/p><p>Such bullish stock price movements were observed after the company, through a regulatory filing with the Bombay Stock Exchange (BSE), announced the financial results for the quarter ended December 2023.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-745932087\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>During the recent financial quarters, the company reported a jump in both the prime indicators of business, viz, operating revenues as well as after-tax profits. The former took a shift from Rs 422 crores during Q2FY24 to Rs 445 crores during Q3FY24, and the after-tax profits, during the same period, rose from Rs 21 crores to Rs 32 crores.&nbsp;<\/p><p>Moreover, the company, yearly, reported an increase in both metrics mentioned above with the operating revenues rising from Rs 349 crores during Q3FY23 to Rs 445 crores during Q3FY24, and the latter, keeping the timeframe the same, increased by a whopping 256 percent, shifting from Rs 9 crores to Rs 32 crores.&nbsp;<\/p><p>As per the latest shareholding pattern data for the December 2023 quarter, the company\u2019s Promoters hold a 38.22 percent stake, and the Foreign Institutional Investors (FIIs), recently increasing their stake, currently hold a 2.11 percent stake in the company.&nbsp;<\/p><p>Morepen Laboratories Limited is a pharmaceutical company based in India that is engaged in the business of developing, manufacturing, and marketing generic drugs and other pharmaceutical formulations. The company&#8217;s products include capsules, injections, ointments, tablets, syrups, and powders.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Amit Madnani<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-604012696\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Shares of this pharma stock under the \u2018small-cap\u2019 category jumped up to 2 percent in Friday\u2019s trading session after the company reported financial results for the quarter ended December 2023.&nbsp; With a market capitalization of Rs 2,705.62 crores, the stocks of Morepen Laboratories Limited started their trading session on Friday at Rs 53.55 and currently [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":98971,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,13525],"tags":[],"class_list":["post-118507","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-stock-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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