Board recommends dividend of Rs 1.60 per equity share
During the quarter under review, the net revenues of Indoco Remedies grew by 13.8 per cent to Rs 211.6 crores as against Rs 185.9 crores for the same period last year. The Profit After Tax (PAT) is at Rs 18.7 crores compared to Rs 18.5 crores in the corresponding quarter last year.
The board has recommended a dividend of 80 per cent i.e. Rs 1.60 per equity share. The company’s domestic formulation business has introduced two new products in the fourth quarter, both in anti-infective segment taking the tally of new products launched to 19 for the year. For the US markets, the company has 50 ANDAs, through partners and our own, at various stages, including seven approvals, 18 pending for approvals and 25 under development.
Suresh G Kare, Chairman, Indoco Remedies said, “Domestic business grew by 17 per cent compared to same quarter last year and by 15 per cent over last year. International formulation business grew by 10 per cent compared to same quarter last year and by 26 per cent over last year. The year was marked by the successfully launch of two ophthalmic products in the US, receipt of three tentative approvals for sterile products filed by its marketing partner and successful inspection of our finished dosages and API facilities by US FDA.”