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Vivanza Biosciences Ltd reports Net Profit Jump of 37 per cent in 9MFY24; Total Income more than doubles to Rs. 23.50 crore

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| February 23, 2024 1:56:11 PM IST
PNN

Ahmedabad (Gujarat) [India], February 23: Gujarat based Vivanza Biosciences Ltd (BSE - 530057) - engaged in the business of pharmaceuticals and agro trading has reported excellent financial results for the nine months ended December 2023. Company reported consolidated total income of Rs. 23.49 crore for the 9MFY24 with a 137 per cent Y-o-Y growth as compared to total income of Rs. 9.92 crore in nine months of FY23. Net profit of the company also jumped 37 per cent to Rs. 96.13 lakh during 9MFY24 as compared to net profit of Rs. 70.19 crore.

Company has reported strong growth over years with 3 Year CAGR of 23 per cent sales and 69 per cent in Net profits. Going forward, the company aims to fortify its position by strategically expanding its operations, bolstering manufacturing capabilities, and optimizing organizational capacities. The Company is looking at different opportunities in untapped markets and also across a value chain. Further, the Company has also set its vision in global market to supply and execute turnkey pharmaceutical units and plans for alliances with business associates in the global market

Vivanza Biosciences Limited is a specialty pharmaceutical company focused on commercializing novel and generic pharmaceuticals, offering patients better, safe and more accessible medicines. Over the last two decades, it has carved for itself, opportunities & faced challenges head on to achieve many milestones. Company offers diversified product portfolio in therapeutic areas including Diabetes, Anti Malaria, Nephrology and Cardiovascular. Company has 100 plus contract manufacturing clients and 32 plus products in pipeline. For FY23, company reported net profit of Rs. 71.6 lakh and Total income of Rs. 18.3 crore.

Earlier in March 2023, company approved stock split in the ration of 1:10. Company approved subdivision of one Equity Share having face value of Rs.10 each into 10 Equity Shares of Rs. 1 each.

The company has further taken major initiatives like strong marketing efforts, focus on cost reduction through inventory management techniques, introduction of new products and manufacturing process without compromising quality of products and retain talented employees etc.

(ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)

 
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