Indian Medicines Pharmaceutical posts ₹12-cr profit in FY21

Our Bureau New Delhi | Updated on April 14, 2021

AYUSH Ministry’s manufacturing unit reports ₹164 crore during the year

AYUSH Ministry’s manufacturing unit Indian Medicines Pharmaceutical Corporation Limited (IMPCL) registered an all-time high profit for the fiscal year 2020-21 at about ₹ 12 crore, the government said in a statement on Wednesday.

It recorded a turnover of ₹164.33 crore for the financial year 2020-21 as compared with the revenue of ₹97 crore in the previous year. “This growth is reflective of the fast-growing adoption of AYUSH products and services by the public in the wake of Covid-19 pandemic,” the government said.

According to the release, the World Health Organization (WHO) recently recommended IMPCl’s 18 Ayurvedic products for WHO-GMP/COPP certification subject to certain observations in March 2021. “WHO provides ‘World Health Organization, Good Manufacturing Practices / Certificate of Pharmaceutical Product (WHO-GMP/CoPP)’ certification to companies after conducting an inspection. This certification is an endorsement of the quality of IMPCL’s products. It will help IMPCL commence export operation of quality medicines at a global level.”

Also read: Ayurveda market saw 50-90% growth in last quarter due to Covid-19 pandemic: Studies

During the pandemic, the company provided immuno boosting medicines as AurakshaImmuno Boosting Kit. At ₹350, it is one of the lowest-priced such kits and is also available on Amazon. Nearly 2 lakh such kits have been sold in the last two months, the release said.

Currently, IMPCL is manufacturing 656 classical Ayurvedic, 332 Unani and 71 proprietary Ayurvedic medicines for the various diseases spectrum. It has contributed towards research and development activities and 25 new proprietary Ayurvedic medicines as per the Essential Drug List.

Published on April 14, 2021

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