The company stated that these observations are procedural in nature and the corrective and preventive actions for these observations will be presented to the USFDA within the stipulated period. The observations made were not repeat observations or related to data integrity.

Caplin Point Laboratories is engaged in the business of pharmaceuticals - producing, developing and marketing wide range of generic formulations and branded products and exporting to overseas market.

The pharma company's consolidated net profit jumped 30.1% to Rs 97.48 crore on 14.1% rise in net sales to Rs 372.07 crore in Q3 FY23 over Q3 FY22.

The scrip rose 0.48% to Rs 750.35 on the BSE.