NGL Fine Chem soars 13% on strong operational performance in Q4

Shares of NGL Fine Chem soared over 13 percent in early trade on May 16,  a day after the company posted a strong operational performance for the fourth quarter.

The pharmaceutical company’s EBIDTA for the January-March period came at Rs. 13.32 crore, up 8.56 percent from Rs. 12.27 crore in the same quarter last year. Cooling down of raw material prices and a sharp decline in finance costs on a year-on-year basis aided the company’s operational metrics.

On the back of a solid operational show, the drugmaker’s consolidated net profit also recorded a 35.8 percent on year jump to to 9.3 crore in the quarter under review.

At 10.59 am, shares of NGL Fine Chem were trading at Rs 1,683 on the National Stock Exchange, up 9.16 percent from the previous close.

About 23,000 shares changed hands on the exchanges so far, as against the one-month daily traded average of 5,000 shares.

Follow our live blog for all the market action

However, revenue from operations in Q4 fell by 12 percent to Rs 73.9 crore compared to year-ago period.

The company’s bottomline has increased consistently through the quarters in FY23, but are still down from the highs touched in FY21 and FY22, likely due to the positive impact of COVID sales.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.???????