New Delhi: Akums Drugs and Pharmaceuticals announced a net profit of ₹60 crore for the quarter ending June 30, 2024, driven by robust sales. In contrast, the company reported a net loss of ₹182 crore in the first quarter of the previous fiscal year.
According to a statement from Akums Drugs, total income rose to ₹1,026 crore, up from ₹978 crore in the same period last year. The company also confirmed that its board has approved a proposal to establish two production plants in Jammu with a total investment of ₹265 crore. These plants will include multiple dosing facilities for both pharmaceutical and nutraceutical products.
Managing Director Sandeep Jain stated that the inauguration of their injectable facility and the expansion in Jammu are critical milestones in their efforts to enhance production capabilities. He emphasized that these advancements, along with continued investments in research and development and innovation, align with the company's commitment to effectively meet the evolving needs of clients and the healthcare sector.
Akums is a leading CDMO (Contract Development and Manufacturing Organization) providing services to major pharmaceutical companies in India. The company’s manufacturing facility is capable of producing 49.59 billion units annually in over 60 different dosage forms. It operates 12 manufacturing units dedicated to formulations and 3 units for active pharmaceutical ingredients. As of the latest update, the company's shares were down by 3.57%, trading at ₹907.35 per share on the BSE.
FIRST Business Portal addressing the potential of business capability of North East Region.
