Hikal shares surge 12% after Q4 numbers; details here1 min read 30 May 2023, 10:19 AM IST
The small-cap pharmaceutical firm reported a 73.75 per cent YoY jump in standalone net profit for Q4FY23 at ₹36.07 crore. In the same quarter last year, the company's profit was ₹20.76 crore.
Shares of Hikal surged over 12 per cent in early deals on BSE on Tuesday (May 30), a day after the company released its March quarter scorecard which showed healthy year-on-year (YoY) growth in the company's profit, thanks to softening of raw material prices and operational improvement initiatives. The stock opened nearly 5 per cent higher at ₹296.10 against the previous close of ₹283.15 on BSE and rose over 12 per cent to the level of ₹317.65 within the first 10 minutes of trade.
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