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13 Aug 2020, Edition - 1857, Thursday

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Poly Medicure Limited Net Profit Jumps 86.87% to Rs. 27.02 Crores in Q2 FY20

Covai Post Network

Poly Medicure Limited announced Financial Results for its Q2 FY19-20 ended September 30, 2019.  The Company's net profit increased by 86.87% from Rs. 14.86 Crores in the same quarter previous year to Rs. 27.02 Crores in the end of September 30, 2019. Revenue has increased by 11.51% from Rs. 150.58 Crores to Rs. 168.23 Crores. EBIDTA increased by 17.95% from Rs. 38.61 crores to 45.54 crores. The company has reported EPS of Rs. 3.22 for the period ended September 30, 2019 as compared to Rs. 2.24 for the period ended June 30, 2019.

 

Mr. Himanshu Baid, MD, Poly Medicure Limited shared, The Company has enhanced its focus on India Business due to increased healthcare activities because of implementation of Ayushman Bharat by Government of India. Almost 18,000 hospitals have already empanelled under Ayushman Bharat. The Company Welcomes Ministry of Health’s recent notification to regulate all medical devices. This will bring all medical devices under Regulatory environment; a positive for the industry as it enhances patient safety and standards.”

 

With a turnover of 600+ crores, Poly Medicure Limited (POLYMED) is an Indian Medical Device Company with over 20 years of experience in manufacturing high quality medical devices. It is one of the leading manufacturer and exporter of medical devices with focus on innovation, safety and quality. The company has been awarded as the “India Medical Devices Company of the Year” by Department of Pharmaceutical Ministry of Chemical & Fertilizer, Government of India. The company has recently set up a facility to make Renal Care/Dialysis products in India which are 100% import substitution. The Company has 5 domestic (3 Faridabad and one each in Jaipur & Haridwar) and 3 overseas (China, Egypt & Italy) manufacturing facilities.

 
Source: Newsvior

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