On August 8th, Hikal announced a consolidated net profit of Rs 6.92 crore in the initial quarter of the current fiscal year. This marks a significant turnaround from the net loss of Rs 8.86 crore reported in the corresponding period of the previous year.
The company’s revenue reached Rs 388.05 crore, indicating a 2.44 percent increase compared to Rs 378.79 crore in the same quarter of the preceding fiscal. Of the total revenue, the pharmaceuticals segment contributed 57.9 percent, amounting to Rs 22,487 lakh.
During the quarter, EBITDA stood at Rs 50 crore, reflecting a remarkable growth of 122 percent in contrast to the figures from the same period a year ago.
In a statement, the company acknowledged that subdued volumes, coupled with pricing challenges and high-cost inventories on the customer side, had an impact on both the topline and overall profitability.
The company’s stock responded positively to this announcement, concluding at Rs 302.70 on the NSE, representing a gain of 2.68 percent compared to the previous closing price.