Indoco Remedies Q1 net jumps over 9-fold to Rs 17.04 cr

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.

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.

Shares of  Indoco Remedies closed at Rs 259.90 per scrip on BSE, up 4.04 per cent from its previous close.

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