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Neuland Laboratories Ltd’s net profit increased by 50 per cent to Rs 5.15 crore in the second quarter ended September 30, 2014 compared to Rs 3.44 crore in the year-ago period.
The total revenue of the Hyderabad-based company increased to Rs 121 crore (Rs 104 cr).
"Neuland resumed its growth trajectory in the second quarter, with good increases in sales and after-tax profits up by almost 50 per cent year-over-year, despite a 2 per cent increase in raw material costs as a result of changes in the product mix," Sucheth R. Davuluri, Chief Executive Officer of Neuland Labs said in a release.
The company anticipates staying on track for good growth over the remainder of this fiscal year. The recent rights Issue of the company was subscribed 1.42 times, according to D.R. Rao, Chairman and Managing Director of Neuland Labs.
The company’s scrip lost 7.33 per cent after opening of trade on the Bombay Stock Exchange on Thursday and is trading at Rs 470.55.
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