Latest News | Indoco Remedies Q1 Net Jumps over 9-fold to Rs 17.04 Cr
Get latest articles and stories on Latest News at LatestLY. Drug firm Indoco Remedies on Tuesday reported over nine-fold jump in its consolidated net profit to Rs 17.04 crore for the first quarter ended June 30, mainly on account of robust sales.
New Delhi, Aug 11 (PTI) Drug firm Indoco Remedies on Tuesday reported over nine-fold jump in its consolidated net profit to Rs 17.04 crore for the first quarter ended June 30, mainly on account of robust sales.
The company had posted a net profit of Rs 1.85 crore for the corresponding period previous fiscal, Indoco Remedies said in a BSE filing.
The consolidated revenue from operations of the company stood at Rs 266.80 crore for the quarter under consideration. It was Rs 247.18 crore for the same period a year ago, it added.
"In the first quarter, the company could register a growth of 7.9 per cent in revenues inspite of COVID-19 crisis. In these challenging times, our teams used digital platforms effectively to establish communication with the customers and maintained uninterrupted supplies of medicines in India and across the world," Indoco Remedies MD Aditi Panandikar said.
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Shares of Indoco Remedies closed at Rs 259.90 per scrip on BSE, up 4.04 per cent from its 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)