Eris Lifesciences: Profit Surge Driven by Domestic Market

Eris Lifesciences Ltd reported a significant profit increase of 39.5% in the second quarter, attributed to robust domestic branded formulations sales. The company's net profit rose to Rs 134.47 crore from Rs 96.41 crore year-on-year, while revenues saw a boost despite a slight dip in international business.

Eris Lifesciences Ltd registered a notable 39.5% rise in net profits for the second quarter, amounting to Rs 134.47 crore, primarily driven by its domestic branded formulations business. The Ahmedabad-based company's earnings jumped from Rs 96.41 crore recorded in the same quarter last year, according to their latest regulatory filing.

The firm's total revenue from operations hit Rs 792.41 crore, an increase from Rs 741.17 crore in the corresponding period of the previous year. Despite the profit surge, the total expenses were slightly higher at Rs 622.83 crore compared to last year's Rs 616.51 crore.

The domestic segment played a critical role in this growth, contributing Rs 708 crore, up 10% from the last fiscal's Rs 644 crore. Conversely, international revenues slightly dipped to Rs 83 crore due to production adjustments for EU-CDMO projects, showcasing a balanced yet strategic focus on its diverse market segments.

(With inputs from agencies.)