Shares of the Indian multinational pharmaceutical and biotechnology company, Laurus Labs, hit record-high Q1 earnings, as stated by the firm on Friday.
The stock hit a high of ₹845.60 against the previous close of ₹835.85 on BSE and market cap of the firm stood at ₹45,261 crore.
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Later, the pharma stock closed 0.36 per cent higher at ₹838.85.
The firm’s net profit surged 1185 per cent year-on-year to ₹163 crore compared to ₹13 crore in the same period last year.
Its revenue climbed 31 per cent year-on-year to ₹1570 crore compared to ₹1195 crore in the corresponding quarter last year.
The company’s statement said its earnings before interest, taxes, depreciation and amortisation (EBITDA) had surged 127 per cent to ₹389 crore from ₹171 crore a year earlier.
Laurus Labs is engaged in the development, manufacturing and services of chemicals and chemical products, pharmaceuticals, medicinal, chemical, biological and botanical products.
Meanwhile, Sensex crashed 721 pts to 81,463 and Nifty closed 225 pts lower to 24,837 on Friday.
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