Venus Remedies paints the Street red; surges by 10 per cent

Venus Remedies has boosted the small cap segment in a sense by surging over 10 per cent. As on Aug 8 at 10.47 am shares have surged by 10.05 per cent and are currently trading at Rs 92. On Aug 6, company has declared its Q1FY17 results. Net profit for Q1FY17 has increased by 6 times as compared to Q1FY16, and stands at Rs 1.18 crores. EBITDA however has depleted by 7 per cent as compared to Q1FY16, and stands at Rs 17.9 crores. Top line has increased by 4 per cent as compared to corresponding quarter of the previous fiscal. Total income from operations stands at Rs 103.15 crores.

The stocks have sharply reacted to results. In the last 3 months, shares have given a return of 5 per cent. However, in the last 1 month the scrips have shrunken by more than 5 per cent. 52-week High/Low stands at Rs 157.40/65.
Venus Remedies Limited, is an India based pharmaceutical formulation company. Company is headquartered in Panchkula (India); its three manufacturing units are in Panchkula, Baddi (both India) and Werne (Germany). The Company’s research and development centre, Venus Medicine Research Centre (VMRC) is certified with GLP accreditation and approved by Department of Scientific and Industrial Research, Government of India (DSIR), and is located in Baddi.