Recovering Sudanese markets helps Kilitch Drugs improve financial performance in FY2020
Mumbai (Maharashtra) [India] August 16 (ANI/NewsVoir): Kilitch Drugs (India) Ltd., a Mumbai based company engaged in the business of manufacturing and marketing of pharmaceutical drugs and formulations has reported a net profit at Rs 0.90 crores and net sales at Rs 11.98 crores, which is a decent performance considering the extremely volatile situation across its key African markets for the quarter ended June 2019 (Q1 FY2019-20).
ANI
Aug 16, 2019 13:15 IST
Mumbai (Maharashtra) [India] August 16 (ANI/NewsVoir): Kilitch Drugs (India) Ltd., a Mumbai based company engaged in the business of manufacturing and marketing of pharmaceutical drugs and formulations has reported a net profit at Rs 0.90 crores and net sales at Rs 11.98 crores, which is a decent performance considering the extremely volatile situation across its key African markets for the quarter ended June 2019 (Q1 FY2019-20).
"Our sales in Sudan had taken a severe blow since the past three quarters due to political instability and internal turmoil. However, we are happy that normalcy has now returned in that nation which augers well for the pharma market. Orders are now on a normal course and this will get reflected more in the forthcoming quarters. Further with the civilian regime set to take over from the military dispensation soon, the scenario in Sudan is encouraging", said Mukund P Mehta, Managing Director, Kilitch Drugs (India) Ltd.
The performance also reflects the company's established market position in the export market, mainly Africa. Kilitch Drugs has consistently moved up the value chain in terms of varied product offerings - drugs and formulations over a period of time.
The continent is a huge pharmaceutical market valued at over USD 25 billion. Over time, investor-friendly policies and availability of skilled labour have enabled the company to efficiently scale up its presence. It has a growing portfolio with many of the products enjoying the number one position in many regions.
By 2020, the company plans to register more than 500 products in the African markets - across the segments of parenteral solutions, effervescent tablets, nutritional products, and medical devices. Higher product registration along with the infusion of new capabilities has positioned the company to leverage on exports going forward.
This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)
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