RPG Life Sciences posted a set of very good numbers for Q4FY13. Net profit at Rs.7.40 crore marked a turnaround from a net loss of Rs.6 crore in Q3FY13 and loss of Rs.6 crore in Q4FY12. And for the year ended 31^st March, net profit came in at Rs.4.41 crore, up from Rs.85 lakh in previous year.

For Q4, the tax write back of Rs.4 crore definitely helped the turnaround. Topline growth was also good at Rs.56 crore, up 37% (YoY) and there was also an other income of Rs.90 lakh. Total debt stood at Rs.47.61 crore as at 31^st March 2013. The company's equity capital is Rs 11.50 crore. Face value per share is Rs 8. The big trigger for the stock was the formal announcement on its part land sale at Navi Mumbai, which was sold for Rs.77 crore to Maruti Suzuki India. This news led to the stock spiking up almost 10%. The company has yesterday received a warning from the US FDA for violations of good manufacturing practices at two of its facilities. The news is that FDA might also withhold new approvals for the company until it satisfies the regulator with corrective measures.