Indoco Remedies posts net profit of Rs 7.81 cr in Q2

PTI New Delhi | Updated on October 30, 2019

Drug firm Indoco Remedies on Wednesday reported a consolidated net profit of Rs 7.81 crore for the quarter ended September 30.

The company had posted a net loss of Rs 7.45 crore for the corresponding period of the previous fiscal, Indoco Remedies said in a filing to BSE. Consolidated revenue from operations of the company stood at Rs 286.21 crore for the quarter under consideration. It was Rs 236.26 crore for the same period year ago.

“During the second quarter, the company’s India business saw double digit growth at 17.2 per cent... Sequentially, India business has grown by 15.3 per cent, which indicates good momentum,” Indoco Remedies MD Aditi Panandikar said.

On the international business front, with the regulatory challenges easing out, the business in Europe will now take off from here onwards, she added. Shares of Indoco Remedies were trading at Rs 168 per scrip on BSE, up 9.09 per cent from their previous close.

Published on October 30, 2019

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