Eris Lifesciences Q4 Results: Net profit rises 17% to Rs 80 crore

New Delhi: Eris Lifesciences Ltd on Tuesday reported a 17 per cent increase in consolidated net profit at Rs 79.97 crore for the fourth quarter ended March 2022. The company had posted a consolidated net profit of Rs 68.24 crore in the same quarter a year ago, Eris Lifesciences said in a regulatory filing.

Consolidated revenue from operations stood at Rs 305.95 crore during the period under review, as compared to Rs 278.2 crore in the corresponding period of the previous fiscal, it added.

The fourth quarter has been very significant in terms of strategic new product launches, including Drolute, Xsulin and Linares as well as the launch of a dedicated insulin division with a field-force of 200 personnel, the company said in an investor presentation.

In the fiscal ended March 31, 2022, consolidated net profit was at Rs 405.8 crore as against Rs 355.14 crore in the previous fiscal, the company said.

For FY22, consolidated revenue from operations was at Rs 1,347.04 crore as compared to Rs 1,211.86 crore in FY21.

On the outlook, Eris Lifesciences said it has an exciting pipeline of 'patent expiration' opportunities coming up in the cardiometabolic segment over the next three to four years.

"We are well-positioned to gain significant leverage from these expirations, given our market leading brands in Vildagliptin (Zomelis) and Dapagliflozin (Gluxit)," it said, adding it has planned over 15 new product launches for FY23.