Advanced Enzyme Technologies rose 1.48% to Rs 349.10 after the company said that it had entered into a mutually exclusive distribution agreement with Azelis Singapore.
The agreement is for the distribution of food enzymes and probiotics for the food & dietary supplement industry in Indonesia, Malaysia, Philippines, Singapore, Thailand & Vietnam.
Mukund Kabra, whole time director at Advanced Enzymes, said: We see excellent fit of our food enzymes and probiotics for food & dietary supplement with Azelis' product portfolio and their industry reach. We are confident that our distribution partnership with Azelis will help to provide exceptional customer service, strengthen supply chain & improve market reach.
Advanced Enzyme Technologies is a specialty biotech company, with global leadership in the manufacturing of enzymes and probiotics.
The company reported 22% fall in consolidated net profit to Rs 30.3 crore despite a 6% rise in revenue to Rs 127.1 crore in Q2 FY22 over Q2 FY21.
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