Profit after tax increased by 48.16 per cent from Rs 1362.04 lakh to Rs 2018.35 lakh
Poly Medicure recently announced Financial Results for its Q1 FY 19-20 ending June 30, 2019. Highlights of the unaudited financial results as compared to the previous quarter are:
Highlight of quarter performance:
- Revenue (turnover) increase by15.74 per cent from Rs 13,470.01 lakh to Rs 15,653.27 lakh
- EBIDTA increase by18.23 per cent from Rs 3462.19 lakh to Rs 4093.37 lakh
- Profit after tax increased by 48.16 per cent from Rs 1362.04 lakh to Rs 2018.35 lakh
The company continued its growth phase with a solid business performance in the first quarter.The company acknowledges the Government of India’s initiative to promote Make in India products and also thanks Government of India for reducing custom duty on parts /raw materials to make dialyser (artificial kidney) used in dialysis treatment. This initiative will help in reduction of manufacturing cost for dialysers (artificial kidney) and in turn reduce cost of dialysis treatment to patients. The company is expanding its reach in tier 2 and tier 3 cities where demand is set to grow multifold due to implementation of Ayushman Bharat programme (PMJAY).
The company is also setting up a new plant in Mahindra SEZ zone near Jaipur for expansion of manufacturing activities and expand its reach in Europe and Asia.