Shares of Sun Pharma Advanced Research Company rallied over 14 percent on Wednesday after the company reported healthy earnings for the quarter ended June 2020.

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The stock rose as much as 14.84 percent to an intraday high of Rs 199.95 on the BSE. The shares have zoomed over 146 percent since its 52-week low of Rs 81.00 hit on March 25, 2020.

At 11:25 am, the stock was trading 8.16 percent higher at Rs 188.90 apiece.

The company posted a net profit of Rs 56.69 crore in Q1FY21 as against a loss of Rs 94.19 crore in the year-ago quarter.

Revenue from operations during the quarter rose to Rs 185.45 crore from just Rs 17.32 crore, YoY.

The company’s EBITDA stood at Rs 60.78 crore, as against negative EBITDA of Rs 95.02 crore posted in Q1FY20. EBITDA margin surged 581.38 percent YoY to 32.77 percent.

The company said it has taken all possible effective measures to limit and keep the impact of COVID-19 under control in order to ensure business continuity with minimal disruption.

“The current liabilities exceed the current assets as of June 30, 2020. The company, as per business plans, is in the process of evaluating various sources of raising funds for its operations. The company has also received a financial support letter from its parent company which is valid till the time the company is able to raise funds from external sources,” Sun Pharma Advanced Research Company said in an exchange filing.

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