Categories Earnings, Health Care, Research Summary

Poly Medicure Limited Q3FY23 Earnings Story

Poly Medicure Limited is an Indian company that deals with the manufacturing and exporting of medical devices. Some of its exported products include plastic medical surgical/disposable devices.

Financial Results:

The company reported a 44.9 percent increase in net profit which stood at INR 50.01 crore. This was primarily due to the 23.7 percent rise in revenue from operations which stood at INR 284.83 crore in the third quarter of FY23 over the same quarter in FY22. A 21.20 percent YoY increase was observed in the company’s total expenses which stood at INR 232.82 in the third quarter of FY23. The cost of materials increased by 15.82 percent YoY to stand at INR 108.59 crore.

In the quarter ended 31 December 2022, the profit before tax saw an increase of 45.7 percent YoY to stand at INR 66.79 crore. 

During the period under review, the employee benefits expense saw an increase of 27.1 percent YoY to stand at INR 53.33 crore.

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