Total income jumped 33.9% to Rs 259.3 crore during the quarter compared with the same period last year.

EBITDA rose 26% to Rs 40 crore in Q4 FY21 from Rs 31.8 crore in Q4 FY20. EBITDA margin was at 15.4% as on 31 March 2021 as compared with 16.4% as on 31 March 2020.

The company reported a consolidated net profit of Rs 80.3 crore in the year ended 31 March 2021 as against net profit of Rs 15.9 crore in the year ended 31 March 2020. Total income rose 24.3% to Rs 953 crore in FY21 over FY20.

Sucheth Davuluri, vice-chairman and chief executive officer of the company, said: "While we are facing headwinds from the second wave of COVID19, we remain committed to our long-term aspirations and believe that our differentiated focus on complex APIs and the CMS business will drive sustainable growth."

Saharsh Davuluri, vice chairman and managing director, Neuland Labs, added: "The numbers indicate the strong performance of our business and operating leverage kicking as seen by the improvement in margins.

We are happy with the growth in the CMS business by about 42%, which was driven by increase in revenue from both baseline and development projects. The CMS projects in the pipeline have reached a critical mass and this would drive the medium to long term growth with the increased traction. We expect Unit 3 to achieve critical scale by the end of this fiscal and that should be another lever of growth for the company."

Neuland Laboratories is a pharmaceutical manufacturer providing active pharmaceutical ingredients (APIs), complex intermediates and custom manufacturing solutions services to customers located in around 80 countries.

The scrip hit a lower circuit of 10% at Rs 2423.45 on the BSE.