Indoco Remedies gains on exporting Paracetamol tablets to the UK

Indoco Remedies rose 1.24% to Rs 249.20 after the company said it delivered the first shipment of Paracetamol tablets to the UK.

Indoco Remedies said it has been part of the great initiative by the Indian government to export Paracetamol tablets to the UK in its fight against Covid 19. The first shipment of 11.70 lakh Paracetamol tablets to the UK was airlifted on 12 April 2020 from Goa airport. The permission granted by the Indian Government is for a total air shipment of 4.48 crore tablets. The remaining quantity is ready for shipment and will be airlifted depending on availability of flights, the company said. The announcement was made during trading hours today, 13 April 2020.

Indoco Remedies' consolidated net profit spurted 71.62% to Rs 9.01 crore on 10% rise in total revenue from operations to Rs 289.35 crore in Q3 December 2019 as against Q3 December 2018.

Indoco Remedies is a fully integrated, research-oriented pharma company with presence in 55 countries.

Powered by Capital Market - Live News