Atul’s share price saw a notable increase in early trading on August 12 after its subsidiary, Atul Bioscience (ABL), received a favorable report from the US Food and Drug Administration (USFDA). Here are the details:
Key Highlights
- Share Price Movement: Atul’s shares were trading at ₹8,038.75 as of 10:38 AM, reflecting positive market sentiment.
- USFDA EIR: Atul Bioscience received an Establishment Inspection Report (EIR) from the USFDA for its Ambernath, Maharashtra manufacturing facility. The EIR was issued following an inspection from May 6 to May 10, which concluded with zero FDA 483 observations.
Financial Performance
- Quarterly Results: For the June quarter, Atul reported an 8.25% increase in net profit, reaching ₹111.88 crore compared to ₹103.35 crore in June 2023.
- Revenue Growth: The company’s revenue rose by 11.85% year-over-year, totaling ₹1,322.05 crore, up from ₹1,182.02 crore.
Company Background
- Business Operations: Atul is involved in the manufacturing and marketing of active pharmaceutical ingredients (APIs), their intermediates, and contract manufacturing operations.
