Curis Lifesciences aims higher exports to Africa, West Asia next fiscal

Economic Times
Economic Times
6d ago • 9 views
Curis Lifesciences aims to boost exports to Africa and West Asia next fiscal year after a significant revenue increase. This growth is supported by strategic partnerships and facility upgrades.
Curis Lifesciences aims higher exports to Africa, West Asia next fiscal
A What happened
Curis Lifesciences has announced plans to increase its exports to Africa and West Asia in the upcoming fiscal year. The company achieved a remarkable 76% year-on-year revenue growth, totaling Rs 28 crore, and a 91% increase in profit after tax, attributed to effective cost control and optimized interest expenses. Chairman Dharmesh Patel highlighted the importance of partnerships with JB Chemicals and Makers Laboratories, along with over 100 clients, in driving this growth. The company recently raised around Rs 26 crore in capital markets, which will be invested in facility upgrades, storage construction, debt repayment, and international registrations. Curis aims to target accelerated exports through approvals in Nigeria, Kenya, Yemen, and the Philippines, focusing on specialty formulations and new therapeutic areas to enhance profit margins.
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Key insights

  • 1

    Significant Revenue Growth: Curis Lifesciences reported a 76% increase in revenue year-on-year.

  • 2

    Profit Surge: The company's profit after tax rose by 91% due to cost management.

  • 3

    Strategic Partnerships: Collaborations with JB Chemicals and others are key to growth.

  • 4

    Export Expansion Plans: Curis aims to boost exports to Africa and the Middle East.

Takeaways

Curis Lifesciences is positioned for significant growth in exports, driven by strong financial performance and strategic partnerships. The company's focus on international markets could enhance its profitability and market presence.

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Business & Markets Economy