The un-audited results of Indoco Remedies for the third quarter of the financial year 2012-13 were announced by the Board of Directors at their recently held meeting held in Mumbai. During the third quarter of FY 2012-13 the company recorded revenues of Rs 1502.6 million as compared to Rs 1417.5 million over the same quarter last year. The company’s domestic formulation business registered a growth of 11 per cent as against Indian Pharma Market (IPM) growth of 9.1 per cent during the quarter.
Commenting on the performance, Suresh G Kare, Executive Chairman, Indoco Remedies said, “The Indian pharma market witnessed some slowdown during the last quarter but is expected to rebound back in the coming quarters. Indoco’s domestic business has performed better than industry and our strategies have paved well for growth in the coming quarters as well. On the international business front, the growth during the quarter was marginal due to slowdown in emerging market tender business but we envisage to close the year with better numbers.”
EP News Bureau – Mumbai
