Multibagger pharma stock Sigachi Industries hits 52-week high after Q3 results 2024

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Multibagger stock: Shares of Sigachi Industries Ltd are one of the multibagger stocks that the Indian stock market has delivered in the last one year. The multibagger pharma stock has risen to the tune of 145 per cent in the last one year. However, it seems that the pharma stock still possesses some upside potential.

After the announcement of Q3 results 2024, this pharma stock witnessed strong buying interest during morning deals on Saturday. Sigachi Industries share price today opened upside and went on to touch an intraday high of ₹85.95 on the NSE. This intraday high is now a new 52-week high for this pharma stock.

The pharma company declared third-quarter results for the current financial year on Friday. The pharma company reported a standalone total income of ₹78.52 crore in October to December 2023 quarter, logging a year-on-year (YoY) rise of 17.90 per cent rise against the standalone total income of ₹66.61 crore in Q3FY23. However, on a sequential basis, the company's standalone total income slipped from ₹80.26 crore to ₹78.52 crore.

Also Read: BSE Bankex F&O expiry on Saturday; can it give an edge to option sellers? However, the multibagger pharma stock reported a rise in net profit in both QoQ and YoY. Sigachi Industries reported a net profit of ₹10.77 crore in Q3FY24 stood at ₹8.37 crore in Q2FY24 and ₹9.32 crore in Q3FY23. This means, the pharma company logged around a 28.65 per cent rise in net profit QoQ whereas it registered a 15.55 per cent YoY rise in standalone profit during the October to December 2023 quarter.