Morepen Laboratories reported on Monday that its consolidated net profit for the March quarter declined by 31% year-on-year to Rs 20 crore, compared to Rs 29 crore in the same period last fiscal.
The company's total income rose to Rs 470 crore, up from Rs 427 crore in the corresponding quarter of the previous year, according to a regulatory filing.
For the full fiscal year, Morepen Laboratories recorded a consolidated net profit of Rs 118 crore, an increase from Rs 97 crore in fiscal 2024. Total income also saw an uptick, reaching Rs 1,830 crore compared to Rs 1,704 crore in the 2023-24 fiscal.
Additionally, the company's board has approved a final dividend of Rs 0.20 per share (face value of Rs 2) for the financial year ending March 31, 2025.
The board has also granted approval for its subsidiary, Morepen Medipath Ltd., to establish a wholly owned subsidiary in mainland Dubai, United Arab Emirates. This move aims to expand the Business-to-Consumer and Business-to-Business segments while enhancing access to the medical device market.
Shares of Morepen Laboratories closed 7.10% higher at Rs 60.36 apiece on the NSE, compared to a 3.82% rise in the benchmark Nifty. The stock has risen 32.37% in the last 12 months but fallen 22.77% on a year-to-date basis.
(With PTI Inputs)
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