The company also reported a 4% decline in its June quarter revenues at Rs 355 crore as against Rs 340 crore reported in the corresponding quarter of the last financial year.
The selling pressure was seen despite a 141% surge in Blue Jet’s profit after tax (PAT) on a year-on-year basis with the company reporting a bottom line of Rs 38 crore in Q1FY25. The topline increased by 118% on the YoY basis versus Rs 163 crore posted in the April-June quarter of FY25.
Blue Jet Healthcare shares hit a 52-week high of Rs 1,027.80 on Monday.
The company’s PAT decline could be attributed to a double-digit rise in its quarterly expenses on a QoQ and YoY basis. Blue Jet reported expenses of Rs 240 crore in the quarter under review, up 17% from Rs 205 crore in Q4FY25 and 97% from Rs 122 crore in the year-ago period. The expenses were made under the heads like ‘Cost of Materials Consumed’, ‘Employee Benefits Expense’, and ‘Finance Cost’, among other things.
The company is engaged in the manufacturing of artificial sweetener, contrast media intermediate, pharma intermediate, and APIs used in pharmaceutical and healthcare products.Blue Jet Healthcare is a smallcap stock with a market capitalization of Rs 15,718.57. The stock has been a multibagger with 116% returns over a 1-year period. This stock has rallied 57% on a year-to-date basis notwithstanding today’s sharp decline.It is currently trading above its 50-day and 200-day simple moving averages (SMAs) of Rs 884 and Rs 705, respectively, according to Trendlyne. The stock has also displayed high volatility in the past one year with a beta of 1.3.
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