Concord Biotech Reports Strong Financial Performance in Q1, Record High Net Sales
Concord Biotech, a midcap pharmaceutical company, has recently announced its financial results for the quarter ended March 2024. The company has shown a positive performance in this quarter, with its score improving from 10 to 13 in the last three months.One of the key highlights of the financials is the net sales, which have reached a record high of Rs 318.97 crore in the last five quarters. This is a 31.5% growth over the average net sales of the previous four quarters, indicating a positive trend in the company's sales. The operating profit (PBDIT) has also seen a significant increase, reaching its highest at Rs 134.29 crore in the last five quarters.
The profit before tax (PBT) less other income has also shown a positive trend, with the highest at Rs 117.91 crore in the last five quarters. This is a 26.7% growth over the average PBT of the previous four quarters, indicating a strong financial performance. The profit after tax (PAT) has also seen a significant increase, reaching its highest at Rs 95.02 crore in the last five quarters.
The earnings per share (EPS) have also shown a positive trend, reaching its highest at Rs 9.08 in the last five quarters. This indicates that the company has been able to create higher earnings for its shareholders.
Based on these financial results, MarketsMOJO has given a 'Hold' call for Concord Biotech's stock. With a positive trend in its sales and profitability, the company is on a strong footing and is expected to continue its growth in the near future.
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