Dishman Carbogen declines 10% after Q4 loss widens

The company reported widening of its consolidated loss to Rs 70.72 crore for the quarter ended March.

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Shares of Dishman Carbogen Amcis Ltd tumbled 10.15 percent to Rs 117.30 in morning trade on May 24 after the company reported a widening of its consolidated loss to Rs 70.72 crore for the quarter ended March.

The active ingredients manufacturer for the pharma industry had posted a net loss of Rs 44.6 crore in Q4 FY22, it said in a regulatory filing post-market hours on May 23.

Revenue for the quarter grew by 8.7 percent to Rs 618.6 crore compared to Rs 569 crore in the same period last year.

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For the full fiscal 2022-23, the company slipped into a net loss of Rs 29.80 crore from a net profit of Rs 18 crore in FY22.

However, revenue increased 12.71 percent to Rs 2,412.92 crore, as against Rs 2,140.69 crore in the preceding fiscal.

Shares of the company are up over 21 percent this year to date.

Established in 1983, Dishman Carbogen Amcis is a fully integrated CRAMS (Contract Research & Manufacturing) company with capabilities right from process research & development to late-stage clinical and commercial manufacturing and supply of API to pharmaceutical companies.

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