RPG Life Sciences Shares Rise To Record High After Q2 Profit Surge 

Shares of RPG Life Sciences Ltd. rose to an all-time high on Thursday after its profit jumped in the July–September quarter of fiscal 2024.

The company's consolidated net profit rose 29.49% year-over-year to Rs 25.9 crore in the quarter ended September, according to an exchange filing.

The board of directors also executed a power delivery agreement with Sunpound Solar, a special-purpose vehicle for the supply of electricity by the power producer to the company, by setting up a group captive solar power project in Maharashtra. The company will invest Rs 1.1 crore to subscribe to the 26% share capital of Sunpound Solar.

RPG Life Sciences Q2 FY24 Key Highlights (YoY)

• Revenue up 13.94% at Rs 153.6 crore.

• Ebitda up 25.42% at Rs 37.3 crore.

• Margin at 24.28% versus 22.05%.

• Net profit up 29.49% at Rs 25.9 crore.

Shares of RPG Life Sciences rose as much as 3.83% before paring gains to trade 1.18% higher at 10:33 a.m., compared to a 0.51% advance in the NSE Nifty 50.

The stock has risen 67.98% on a year-to-date basis. Total traded volume so far in the day stood at 5.7 times its 30-day average. The relative strength index was at 68.