Molbio Diagnostics shares are defying market sentiment, clocking stellar gains for the last three consecutive sessions. In morning trade on Friday, 11 September, Molbio Diagnostics share price jumped 11.7% to hit a fresh record high of ₹1,686.50. In just three consecutive sessions, the stock has surged nearly 51% on the BSE, giving stellar rewards to its investors.
The newly-listed stock, which debuted on 17 August this year, has more than doubled investors' money. At the current market price of ₹1,686.50, the stock has surged 109% from its issue price of ₹807.
The strong surge in the stock price can be largely attributed to the company's healthy financial performance in the last financial year and the company's positive growth outlook.
Molbio Diagnostics reported a profit of ₹52.74 crore for the first quarter of the current financial year (Q1FY27) compared to a loss of ₹23.94 crore in the same quarter last year.
Total income for the quarter stood at ₹411.48 crore compared to ₹100.47 crore year-on-year. EBITDA also turned positive to ₹103.68 crore against a negative EBITDA of ₹14.50 crore year-on-year. Consequently, EBITDA margin stood at 25.20% against (-14.43%) in the same quarter last year.