Vivanza Biosciences Reports Net Profit Jump Of 37% In 9MFY24
Gujarat-based Vivanza Biosciences engaged in the business of pharmaceuticals and agro trading has reported excellent financial results for the nine months ended December 2023. The company reported a consolidated total income of Rs. 23.49 crore for the 9MFY24 with a 137 per cent Y-o-Y growth as compared to a 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.
The company has reported strong growth over the years with 3 Year CAGR of 23 per cent in 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 the 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 speciality pharmaceutical company focused on commercializing novel and generic pharmaceuticals, offering patients better, safer and more accessible medicines. Over the last two decades, it has carved for itself, opportunities & faced challenges head-on to achieve many milestones. The company offers a diversified product portfolio in therapeutic areas including Diabetes, Anti Malaria, Nephrology and Cardiovascular. The company has 100 plus contract manufacturing clients and 32 plus products in the pipeline. For FY23, the company reported net profit of Rs. 71.6 lakh and Total income of Rs 18.3 crore.
Earlier in March 2023, the company approved a stock split in the ratio of 1:10. The Company approved the 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 processes without compromising the quality of products and retaining talented employees etc.
