India's TTK Healthcare Q2 profit more than doubles on higher sales of medical devices

TTK Healthcare

28/10/2022 09:46

BENGALURU, Oct 28 (Reuters) - India's TTK Healthcare Ltd
 TTKH.NS  reported a more than two-fold rise in quarterly profit
on Friday, boosted by higher sales of medical devices and
contraceptives.
    Profit from continuing operations rose to 79.1 million
Indian rupees ($959,625.37) for the three months ended Sept. 30,
from 37.5 million rupees a year earlier.  
    Shares of the company rose nearly 3% to hit a two-week high.
    The rising prevalence of chronic medical conditions has led
to development of various advanced medical treatments, resulting
in higher demand for medical devices.
    Revenue from operations rose 12.8% to 1.7 billion rupees,
helped by a 14.7% increase in revenue in its medical devices
segment.
    Revenue from its protective devices segment, which houses
its Skore condom brand, climbed nearly 33% as it launched new
products. Recently, it also won a contract to supply
contraceptive devices to an international agency till July 2023.
($1 = 82.4280 Indian rupees)
 (Reporting by Priya Sagar in Bengaluru: Edited by Janane
Venkatraman)
 ((Priya.Sagar@thomsonreuters.com;))