Caplin Point Surges 7% As The Board Recommends A Dividend Of Rs 1.50 Per Share

Caplin Point Laboratories Limited, a leading pharmaceutical company on Thursday surged more than 7% in the morning trade on the BSE. The company on Wednesday announced its financial results for the quarter ended March 2017.  It reported a revenue growth of 30%. The consolidated profit after tax is Rs 33.41 crore for the quarter ended March 2017, a growth of 114% as against Rs 15.58 crore for the same quarter in the previous year.

The board of the company in its meeting held on May 10, 2017, recommended a dividend of Rs 1.50 per equity share (75%) at the face value of Rs 2 each for the financial year ended March 31, 2017, as per BSE filing.

The stock is trading up 7.6% at Rs 437 per share at 10:40 AM IST on the BSE. It also witnessed a spurt in the volume by more than 11.83 times and also hit an intraday high at Rs 466.95.

Caplin Point Laboratories Limited is a pharmaceutical company. The company's product segments include antibiotics, non-steroidal anti-inflammatory drugs (NSAIDS), ophthalmics, pain management and anti-ulcers.

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