Morepen Laboratories touched a day high of Rs 81.40 on the NSE on Thursday, bouncing back sharply from a rough three day losing streak.

The pharma company had lost over 8.5% across three straight sessions before Thursday, giving back some of the gains it made right after its June quarter results came out earlier this month.

This week’s rally has now reversed a good chunk of that slide. The results themselves were strong.

Net profit came in at Rs 56.4 crore, up sharply from Rs 10.8 crore a year earlier. Revenue grew 34.1% year on year to Rs 570.1 crore. Profitability improved by an even bigger margin.

EBITDA, which measures how much a company earns from its core operations before interest and depreciation costs, more than tripled to Rs 82.5 crore from Rs 24.2 crore.

The operating margin expanded to 14.5% from just 5.7% a year ago. Exports drove much of that growth.

Revenue from active pharmaceutical ingredients, the raw materials used to make medicines, rose 31%, with API exports specifically climbing 42% on stronger demand from overseas clients.

Across the business, total export revenue more than doubled, up 111% year on year. Morepen’s market capitalisation stood at Rs 4,402.81 crore as of the company’s last update, with promoters holding a 35.65% stake.

Foreign institutional investors held 1.46%, and domestic institutions held 1.29%. The stock has gained in six of the last 10 trading sessions and now sits close to its 52 week high of Rs 83.50, touched earlier this month.

As of 12:48 pm on Thursday, Morepen Laboratories shares were trading at Rs 79.60 on the NSE, up 8.36% for the day.

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