Poly Medicure announces results for the quarter ended December 31, 2016

Poly Medicure, manufacturers of medical devices and disposables under the brand name Polymed announced financial results for its third quarter and nine months ended December 31, 2016.

The revenue increased by 8.74 per cent to11,594.21 Lacs, EBITA margin at 19.87 per cent, Profit Before Tax increased by 16.75 per cent amounting to 2,106.28 Lacs and the Net Profit increased by 21.00 per cent amounting to 1,503.52 Lacs.

Himanshu Baid, MD, Poly Medicure informed, "We have been expanding our penetration in the domestic market and product portfolio rapidly and the positive numbers are a result of it. Timely implementation of saving processes have also helped us beat market expectations and show good numbers."

"Our exports to Europe have been on the rise and the pipeline also looks quite robust," added Baid.

The Board of Directors, declared second interim dividend for the financial year 2016-17, of one rupee per equity share amounts to 20 per cent on equity shares of Rs. 5 each fully paid-up  of the company. They have also recommended the issue of bonus shares in the proportion of one new equity share of Rs 5 each for every one existing equity share of Rs. 5 each fully paid up of the company, subject to the approval of the shareholders.