Sai Life Sciences shares fall nearly 6% on heavy volumes

Shares of the Hyderabad-based contract research, development and manufacturing organisation fell as much as 5.87% to hit an intraday low of ₹853.70 on the National Stock Exchange on the back of heavier than usual trading volumes.

Trading volume in the stock jumped by 110 times to 4.37 crore shares as against an average trading volume of 3.98 lakh shares.

On the BSE, as many as 26.87 lakh shares changed hands compared with an average of 25,000 shares traded daily in the past two weeks.

Earlier this month, Sai Life Sciences reported net profit of ₹60 crore in the first quarter of current financial year against loss of ₹13 crore in the same period last year.

The Hyderabad-based contract research, development and manufacturing organisation's revenue from operations rose 77% to ₹496 crore compared with ₹280 crore in the year-ago period.

Sai Life Sciences reported strong operational performance in April-June period as its operating profit also known as Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) jumped 5 times to ₹120 crore from 26 crore in the same period last year.

Its operating profit margin expanded to 24.14% from 9.29% in the year-ago period.

As of 2:11 pm, Sai Life Sciences shares traded 4.7% higher at ₹864.35 underperforming the NIFTY50 index which was down 0.77%.

Sai Life Sciences is the fastest-growing contract research, development, and manufacturing organisation (CRDMO) among listed Indian peers (in terms of revenue CAGR and EBITDA CAGR from FY22 to FY24). As a pure-play, full-service CRDMO, we work with over 280 global innovator pharma and biotech companies to accelerate the discovery, development, and commercialisation of their NCE small molecule programmes.