Hester Biosciences shares hit upper circuit on Monday after the company on Saturday reported a 57.14 per cent rise in standalone net profit to Rs 5.5 crore for the quarter ended March 31, 2016. The company had posted a net profit of Rs 3.5 crore in the same quarter last fiscal.
The share price of the company closed 20 per cent higher at Rs 637.50.
Standalone net sales of the company rose to Rs 28.18 crore for quarter ended March 2016 as against Rs 23.36 crore in the same quarter last year.
For entire 2015-16 fiscal, the standalone net profit of the firm surged to Rs 19.22 crore compared with Rs 13.99 crore a year ago.
The board of directors had declared and paid and interim dividend of Rs 3 per equity share (30 per cent) on 10 March 2016. Further, the board has recommended a final dividend of Rs 1.10 per equity share (11 per cent) for the financial year 2015-16, subject to the approval of the shareholders.
Hester Biosciences in a release said, “The company achieved its primary objective of improving the bottom line in the financial year. The main drivers for the improvement in the bottom line have been better inventory management, stricter credit controls and shift in the product mix.”
Earnings per share for the Q4FY16 is at Rs 6.47 as against Rs 4.16 for Q4FY15.