Eris Lifesciences Gains After Loan Pre-Payment

Eris Lifesciences rose 1.41% to Rs 638 at 13:58 IST on BSE, after the company notified that it has pre-paid the entire loan facility obtained from Axis Bank.

The announcement was made after market hours on Friday, 12 April 2019.Meanwhile, the S&P BSE Sensex was up 157.10 points or 0.41% at 38,924.21

Eris Lifesciences notified that the company has pre-paid the entire loan facility obtained from Axis Bank (Lender). The loan facility agreements dated 30 November 2017 with Axis Bank Limited therefore stand closed / terminated, it added.

On a consolidated basis, net profit of Eris Lifesciences rose 7.05% to Rs 80.20 crore on 19.74% rise in net sales to Rs 248.48 crore in Q3 December 2018 over Q3 December 2017.

Eris Lifesciences is one of the fastest growing companies within the chronic and acute categories of the Indian Branded Formulations market such as: cardiovascular; anti-diabetes; vitamins; gastroenterology and gynaecology. Business Standard