Marksans Pharma hits upper circuit

Marksans Pharma has been steadily trading in green on Monday's trading session owing to successful completion of its manufacturing plant inspection. The share price of the pharma company increased 19.95 per cent and is trading at Rs 48.7 in an intraday basis till the time this report was filed. Its share price hits upper circuit on February 20.

Marksans Pharma’s plant located at Goa has completed inspection by UK MHRA from February 14 to February 17. The company’s L-82 and L-83, Verna Industrial Estate, Verna, Goa plant has successfully completed inspection without any critical observation. At the same time, Marksans Pharma is waiting for further instruction from the agency in this regard.

On financial front, Marksans Pharma’s revenue decreased 1.06 per cent to Rs 215 crore in Q3FY17 on YoY basis. Its operating profit for the quarter too reduced 5.64 per cent to Rs 28.86 crore in Q3FY17 as compared to the same period in the previous fiscal year. The company's PAT for the quarter was Rs 12.8 crore, which represents YoY decline of 31.18 per cent.