RPG Life jumps on turnaround
RPG Life Sciences is on the buzz today, currently up over 14% at Rs.71, with an intra day high at Rs.73.95, very close to its upper circuit filter of Rs.74.70. Volumes are extremely robust, up over 7 times the two week average.
The stock is up on the back of very good numbers for Q4FY13. Net profit at Rs.7.40 crore marked a turnaround from a net loss of Rs.6 crore in Q3FY13 and loss of Rs.6 crore in Q4FY12. And for the year ended 31st March, net profit came in at Rs.4.41 crore, up from Rs.85 lakh in previous year.
For Q4, the tax write back of Rs.4 crore definitely helped the turnaround. Topline growth was also good at Rs.56 crore, up 37% (YoY) and there was also an other income of Rs.90 lakh. Total debt stood at Rs.47.61 crore as at 31st March 2013.