Venus Remedies Q1 net Profit Recorded 629.5% YoY Increase Due to Strong Sales

 Riding on the remarkable execution of its sales and logistics strategies, Venus Remedies Ltd, one of India's leading research-driven pharmaceutical companies, has posted a sevenfold increase in net profit in the first quarter of this financial year as compared to the corresponding period last year.

Venus Remedies announced its unaudited financial results for June 30, stating that its net profit increased 629.5% to Rs 14.59 crore, from Rs 2.00 crore in its previous quarter.

Similarly, the net profit percentage to total revenues increased from 1.11% - 10.51%, and the EBIDTA revenue percentage grew from 12.41% - 15.55%. This reflects impressive rapid growth.

Venus Remedies Ltd trades at Rs493.15, up by Rs20.25 (4.28%) from its previous close of Rs472.90 on BSE.

Strong sales of critical care products on the domestic market drove our profitability growth during the first quarter. This resulted in lower freight and other selling costs. "The concerted efforts and resources that we have mobilized over two years to strengthen relationships with suppliers and customers are paying off," stated Mr. Saransh Chaudhary (President, Global Critical Care, Venus Remedies Ltd), while commenting on the company’s remarkable financial performance.

Venus Remedies has been able to grow rapidly because of its R&D efforts to create innovative products that address unmet medical needs. Its focus on building a strong product pipeline with a balance of R&D-based and generic drugs has helped it to achieve high growth.

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