Aarti Drugs shares surge over 19% on Q1 results & buyback news

Aarti Drugs' shares surge over 19% to Rs. 609 on BSE. The company's Q1 consolidated net profit jumps 38% to Rs. 48 crore, compared to Rs. 34.8 crore in the year-ago period. 

  • Q1FY24, revenue surged by 6% to reach Rs. 661.7 crore compared to Rs. 622.2 crore in the corresponding period last year. 
  • EBITDA for Q1 FY24 stood at Rs. 84.7 crores, compared to Rs. 67.4 crores recorded in Q1 FY23.

Aarti Drugs' board approved a buyback plan to repurchase up to 6,65,000 lakh equity shares at a maximum value of Rs. 59.85 crore. The fixed buyback price is Rs. 900 per equity share, a significant 76% premium over the last closing price. The proposed buyback size represents 0.72% of the company's total equity. 

In terms of revenue distribution, 

  • Approximately 68% of the company's Q1FY24 revenues came from the domestic market, 
  • Remaining 32% were from the export market for its standalone business. 
  • Notably, domestic revenue exhibited remarkable growth, increasing by approximately 13.6% 
  • Exports de-grew by around 4.0% year-on-year (YoY) for Q1 FY24

Source: Media Reports

Top stories
Budget

Impact of Budget on Common Man

9 mins read . 23 Jul 2024 . 12:22 PM

Budget

Finance Minister Nirmala Sitharaman to Presents Union Budget 2024

3 mins read . 23 Jul 2024 . 09:20 AM

Company

JSW Energy Arm Secures Major Solar and Energy Storage Projects

5 mins read . 23 Jul 2024 . 05:35 AM

Related Blogs
blog-logo

Share Market

blog-logo

8 mins read . 19 Jul 2024

Stock Market Trading Time in India

  • 36 people read
blog-logo

Share Market

blog-logo

11 mins read . 19 Jul 2024

How To Trade in T2T Stocks

  • 36 people read
Kickstart your equities journey today You've got this
By submitting this I agree to the terms & conditions