Shares of Strides Pharma Ltd. surged to the day's high on Friday, October 31, in response to its September quarter results, that were better on a year-on-year basis. The stock surged as much as 13%, closing in on its 52-week highs of ₹972.

Net profit for the company went up by 82% from last year to ₹131.5 crore from ₹72.2 crore.

Revenue increased by 4.6% on a year-on-year basis to ₹1,221 crore. Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) increased by 25.4% from the year-ago period to ₹232 crore.

EBITDA margin for the quarter expanded by over 300 basis points to 19% from 15.8% last year.

Strides Pharma's gross margin expanded by 500 basis points from last year to 57.8% from 52.8% last year.

The company also reduced its net debt by ₹47 crore on a sequential bas

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