You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

Aarti Drugs closes UAE-based subsidiary

Capital Market 

Pinnacle Life Science, a wholly-owned subsidiary of Aarti Drugs, incorporated at International Free Zone Authority (IFZA) in Fujairah, UAE, has been closed.

Pinnacle Life Science was not a material subsidiary of the company and did not have any business activity. The winding up of this subsidiary will not affect the revenue or business of Aarti Drugs. The announcement was made after market hours on Friday, 19 February 2021.

The drug maker's consolidated net profit soared 144.9% to Rs 68.03 crore on 12% rise in net sales to Rs 530.25 crore in Q3 December 2020 over Q3 December 2019.

Shares of Aarti Drugs fell 0.09% to Rs 642. Aarti Drugs is a pharmaceutical company and has a strong presence in the anti-diarrhea, anti-inflammatory therapeutic groups.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Mon, February 22 2021. 15:20 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU