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Eris Lifesciences Q4 net profit rises 21% to Rs. 68 crore

Our Bureau, Mumbai
Friday, May 14, 2021, 13:10 Hrs  [IST]

Eris Lifesciences Limited, a leading Indian branded formulations manufacturing company, posted 21 per cent rise in net profit to Rs. 68 crore for the fourth quarter ended March 31, 2021.

The company’s revenue grew by 11.9 per cent YoY to Rs. 2,78.2 crore.

Commenting on the results, Amit Bakshi, chairman & managing director of Eris Lifesciences Ltd., said, “FY21 was a game changer for us during which we have registered robust improvement across all business and financial metrics. We were able to harness the power of our fundamental business pillars - leadership brands in chronic super-specialty, a strong cash flow generating business model, a debt-free balance sheet, and our consistent focus on operational excellence - to successfully navigate what has been one of the most challenging years ever.”

Krishnakumar V, executive director & chief operating officer of Eris Lifesciences Ltd., added, “Our focus on building sustainable brands paid us rich dividends in FY21 as prescriber preference shifted to established incumbent brands, following the drastic reduction of MR-Doctor interactions during the pandemic period. We clocked a 15 per cent growth in MR productivity despite multiple disruptions on account of lockdowns. We have an exciting period of organic growth coming up in the next 3-4 years, driven by multiple factors. Firstly, we have a strong pipeline of new product launches, driven by upcoming patent expirations in the cardio metabolic segment. Secondly, our market standing in diabetes enables us to take the lead in the management of post-Covid early-onset diabetes (unmasking diabetes) – Gluxit and Zomelis are strategic products for us in this regard. Thirdly, we are expanding our coverage of cardiologists and consulting physicians by up to 50%.

“We are making investments in technology in order to further improve our sales productivity. We continue to look for high-return in-licensing and acquisition opportunities, in order to supplement our organic growth initiatives,” added Krishnakumar.

 

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