The pharmaceutical company reported a 132 per cent jump in net profit to Rs 39.66 crore in the quarter ended on June 30, as against a net profit of Rs 17.04 crore in the year ago quarter.
Shares of Indoco Remedies surged 20 per cent, its daily circuit limit, to Rs 529.70 on Thursday. However, it was trading at Rs 505 at 11 am. The scrip settled at Rs 441.45 on Wednesday.
The revenue from operations rose 43 per cent to Rs 381.43 crore in the quarter ended June 2021 as against Rs 266.80 crore during the previous quarter ended June 2020.
Shares of Indoco Remedies have delivered over more than 100 per cent return in the last one year. The pharma counter has gained about 12 per cent in the last one month.
On a sequential basis, the company reported a growth of 30 per cent in revenue and the profit surged 60 per cent as compared to the March 2021 quarter.
