Latest News | Eris Lifesciences Q2 Net Profit Up 10 Pc to Rs 118 Crore

New Delhi, Oct 29 (PTI) Drug firm Eris Lifesciences on Friday reported a 9.9 per cent rise in consolidated net profit to Rs 118.4 crore for the quarter ended September.

The company had posted a net profit of Rs 107.7 crore in the corresponding period of the previous fiscal, Eris Lifesciences said in a BSE filing.

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Consolidated revenue from operations stood at Rs 359.7 crore for the quarter under consideration. It was Rs 330 crore for the same period a year ago, it added.

"Our branded formulations business has outperformed the market growth by nearly 50 per cent since pre-pandemic times, driven by strong growths in our cardio-metabolic, VMN and CNS therapies," Eris Lifesciences Chairman & MD Amit Bakshi said.

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The company's focus on building strong brands in fast growing therapies coupled with several patent expiration opportunities will enable it to sustain this growth trajectory, he added.

Shares of Eris Lifesciences closed at Rs 817.30 apiece on BSE, up 4.44 per cent over previous close.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)