Poly Medicure Limited has announced financial results for its 1QFY20 ended June 30, 2019. The company has reported a 15.74 percent increase in total income at Rs 156.53 crore during the period ended June 30, 2019 (1QFY20) as compared to Rs 134.70 crore during the period ended March 31, 2019 (4QFY19). Revenue (turnover) increased by 15.74 percent from Rs 134.7 crore to Rs 156.53 crore. EBIDTA increased by 18.23 percent from Rs 34.62 crore to Rs 40.93 crore. Profit-after-Tax (PAT) increased by 48.16 percent from Rs 13.62 crore to Rs 20.18 crore.
The company is setting up a new plant in Mahindra SEZ zone near Jaipur for expansion of manufacturing activities, and to expand its reach in the markets of Europe and Asia. With its strong R&D initiatives, the company has successfully been granted 230+ product and process patents globally and has also filed for grant of an additional 210+ patents.
Poly Medicure Limited
“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 the government for reducing custom duty on parts/raw materials to make dialyzer (artificial kidney) used in dialysis treatment. This initiative will help in reduction of manufacturing cost for dialyzers (artificial kidney) and in turn reduce cost of dialysis treatment to patients. The company is expanding its reach in Tier-II and Tier-III cities, where demand is set to grow multifold due to implementation of Ayushman Bharat program (PMJAY).”