Indoco Remedies announced the receipt of tentative approval from the USFDA for Abbreviated New Drug Application (ANDA) for Canagliflozin and Metformin Hydrochloride Tablets, 50 mg/500 mg, 50 mg/1000 mg, 150 mg/500 mg and 150 mg/1000 mg, a generic equivalent of Invokamet� Tablets, 50 mg/500 mg, 50 mg/1000 mg, 150 mg/500 mg and 150 mg/1000 mg. This product, Canagliflozin and Metformin Hydrochloride Tablets, will be manufactured by Indoco Remedies, at their manufacturing facility located at L-14, Verna Industrial Area, Verna, Goa - 403722 in India. Canagliflozin and Metformin Hydrochloride Tablets are used to treat type 2 diabetes mellitus.Powered by Capital Market - Live News

Indoco Remedies announced that the Board of Directors of the Company at its meeting held on 16 May 2024, has recommended a Final dividend of Rs.1.50 per share (i.e.75%), subject to the approval of the shareholders.Powered by Capital Market - Live News

Net profit of Indoco Remedies declined 12.05% to Rs 22.70 crore in the quarter ended March 2024 as against Rs 25.81 crore during the previous quarter ended March 2023. Sales rose 2.41% to Rs 439.08 crore in the quarter ended March 2024 as against Rs 428.75 crore during the previous quarter ended March 2023.For the full year,net profit declined 30.78% to Rs 98.47 crore in the year ended March 2024 as against Rs 142.25 crore during the previous year ended March 2023. Sales rose 9.03% to Rs 1788.22 crore in the year ended March 2024 as against Rs 1640.05 crore during the previous year ended March 2023. ParticularsQuarter EndedYear Ended�Mar. 2024Mar. 2023% Var.Mar. 2024Mar. 2023% Var. Sales439.08428.75 2 1788.221640.05 9 OPM %11.1315.10 -13.6617.44 - PBDT39.4856.62 -30 216.14263.41 -18 PBT13.2538.93 -66 124.27192.80 -36 NP22.7025.81 -12 98.47142.25 -31 Powered by Capital Market - Live News

Indoco Remedies will hold a meeting of the Board of Directors of the Company on 16 May 2024Powered by Capital Market - Live News

Indoco Remedies has allotted 31,850 equity shares under ESOP on 29 March 2024. Consequent to this allotment, the paid-up capital of the Company stands increased from Rs. 18,43,00,710 (consisting of 9,21,50,355 equity shares of face value of Rs. 2 each) to Rs. 18,43,64,410 (consisting of 9,21,82,205 equity shares of face value of Rs. 2 each).Powered by Capital Market - Live News