Onesource Specialty Pharma Ltd. on Saturday, May 16, said it has received government approval for the Unit II expansion project in Bengaluru under its industrial policy.The company said the approval was granted pursuant to the company’s proposal for investment in the expansion of its Unit II facility at Obadenahalli in Bengaluru rural district.
It said Unit II is a flagship facility of the company and the proposed expansion represents a significant step in its growth strategy to enhance manufacturing capacities for servicing global partners.
The company reported its fourth quarter earnings this week. Its consolidated net profit declined to 4.6 crore form 98.5 crore last year, while its revenue increased marginally to 428.2 crore from 426 crore in the previous year.Its EBITDA declined 50% to 92 crore from 182 crore and its EBITDA margin contracted to 21.5% from 42.7% in the year-ago period.
Shares of Onesource Specialty Pharma Ltd. ended the previous trading session 0.7% up at 1,833 apiece. The stock has gained 21.7% in the past month.
