Medico Remedies Announces Robust Financial Performance For Q2 FY 2024
Dec 24, 2024
PNN
Mumbai (Maharashtra) [India], December 24: Medico Remedies Limited, a trusted name in the pharmaceutical industry, announced robust financial financial performance for the quarter ended September 2024.
Medico Remedies registered a total income of Rs. 400.27 million for the second quarter and a net profit of Rs. 15.56 million. The company's EPS for the quarter stood at Rs. 0.19, while profit before tax was Rs. 21.32 million. The operating profit margin and net profit margin for the quarter were 7.86% and 3.95% respectively.
Haresh Mehta, Chairman of Medico Remedies Limited, said, "We are pleased with our financial results for the second quarter. Despite challenging market conditions, we have managed strong revenue and profit performance. We are well-positioned to benefit from the opportunities the fast-growing pharmaceuticals business offers and are confident of improving our financial performance in the coming quarters."
Medico Remedies is focused on expanding its market presence and is actively pursuing growth opportunities within the sector. It remains committed to providing high-quality medicines and healthcare solutions at affordable prices.
Headquartered in Mumbai, Medico Remedies is a leading player in the pharmaceutical sector with manufacturing and marketing capabilities in formulation with a focus on anti-infective, beta-lactams, cephalosporins, antimalarial, antiretroviral, anti-ulcer drugs and antacids, vitamins, haematinics and other supplements.
Medico Remedies also has manufacturing capabilities in other drugs such as NSAIDs, antihistaminics, anti-diabetics, cardiovascular drugs, diuretics, anti-epileptics, combination drug kits, syrups, creams and gels for various therapeutic segments. Established in 1994, the company is known for its commitment to innovation, quality assurance and customer satisfaction.
Medico Remedies' market cap stood at Rs. 424.55 crore as of Monday, December 23. The company's shares closed at Rs. 51.16 on the BSE.
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