Shares of this leading biotechnology firm dropped approximately 2% to an intra-day low of Rs 697 each, down from the previous closing price, following an 8.4% decline in net profits.
On Friday, Praj Industries Limited’s shares closed at Rs 700.80 each, with a market capitalization of Rs 12,881 crores. The stock has delivered a 73% return over the past year and a 37% return over the previous six months.
Comparing the latest Q1FY25 results with the previous quarter, revenue from operations fell by 31.3%, from Rs 1,018.5 crores in Q4FY24 to Rs 699.1 crores in Q1FY25. Net profits also decreased by 8.4%, from Rs 91.9 crores to Rs 84.1 crores during the same period.
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