Shasun’s Pharma more than doubled its net profits in Q1 thanks to its thriving API (active pharmaceutical ingredient) contract manufacturing business.
The results follow a $19m (RS 105.5m) investment in a new API facility in Vizag, India, which the firm expects will fetch $100m return over the next three years.
The first quarter has so far seen earnings of $2.5m, compared to $12.3m last year.
“There has been an overall growth in the CRAMS (contract research and manufacturing services) business. This constitutes over 50 per cent of our consolidated business,” CFO S Hariharan told The Hindu Business Line.
Of the future, the firm says growth investments will be geared towards new API products.