Caplin Point Laboratories has reported a notable 21% YoY surge in its consolidated net profit for the first quarter, reaching ₹104 crore. In comparison, during the corresponding quarter of the previous fiscal year, the Chennai-based pharmaceutical company recorded a net profit of ₹86 crore.
Furthermore, the consolidated revenue from operations witnessed a 14 percent year-on-year increase, reaching ₹395 crore for the most recent quarter, as opposed to ₹346 crore in the same quarter of the preceding year.
Caplin Point specializes in the production of pharmaceutical formulations and therapeutic products under both generic and branded categories, with a primary focus on the emerging markets in Latin America and Africa. Their diverse product portfolio includes tablets, softgels, capsules, injections, liquid orals, ointments, and creams.
Of the total revenue, Latin America and the Rest of the World contributed a substantial 88 percent, with the remaining share attributed to the US market.
The company’s EBITDA margin for Q1FY24 improved to 34 percent, a rise from the 32.2 percent recorded in the year-ago quarter.
The shares of Caplin Point closes at Rs.995.60 each, 11.12% higher than previous close. The shares have rallied almost 25 percent within the past month.
Moreover, Caplin Steriles Ltd will establish a wholly-owned subsidiary, Caplin Steriles USA Inc. This subsidiary will be primarily focused on front-end sales, marketing, and distribution in the US market.