Pharmaceutical company Indoco Remedies on Tuesday posted fiscal first quarter profit at Rs 24.39 crore, down 36.8 per cent as against Rs 38.57 crore during the first quarter of FY23. It posted revenue from operations at Rs 416.81 crore, up 5.5 per cent in comparison to Rs 395.21 crore during the corresponding quarter of last year. The company EBITDA stood at Rs 51.4 crore, down 12 per cent on-year. Indoco Remedies posted total income during the quarter at Rs 426.91 crore, up 4.3 per cent as against Rs 409.35 crore during Q1FY23. However, total expenses during the quarter stood at Rs 393 crore, up 8.9 per cent from Rs 361 crore during Q1FY23.
“Our first quarter results demonstrate good growth in API business, complemented by steady performance in the Domestic Formulation business. We remain optimistic for the rest of the year and are committed to building and further strengthening our position in the market,” said Aditi Panandikar, Managing Director, Indoco Remedies Ltd.
Indoco has a presence in 55 countries, and has a turnover of $200 million with a human capital of 6000 employees, including over 300 skilled scientists and Field Staff. The company has 9 manufacturing facilities, 6 for FDFs and 3 for APIs, supported by a state-of-the-art R&D Centre and a CRO facility. The pharmaceutical company generates more than 109 million prescriptions annually from over 3,00,000 doctors belonging to various specialties. Top Indoco brands include Cyclopam, Febrex Plus, Sensodent-K, Karvol Plus, ATM, Oxipod, Cital, Sensoform, Sensodent-KF, Cloben-G, Glychek, Kidodent, Carmicide, Rexidin, MCBM 69, Methycal, Homide, Cal-Aid, etc.
