Revenue from operations jumped 16.18% year on year (YoY) to Rs 39.13 crore during the quarter.
In Q1 FY25, the firm’s revenue from in Vitro Devices (IVD) at Rs 1.59 crore (up 960% YoY) while revenue from male and female contraceptives & jelly stood at Rs 35.12 crore (up 4.74% YoY).
Profit before tax zoomed to Rs 10.56 crore in Q1 FY25 as compared to Rs 2.23 crore posted in Q1 FY24.
Meanwhile, the company’s board has approved the incorporation of a wholly owned subsidiary (WOS) in the United Arab Emirates (UAE). The subsidiary will be named either CUPID UAE, CUPID INVESCO, CUPID INVESTMENTS, or any other name approved by the authorities in the Jebel Ali Free Zone, Jebel Ali, Dubai, UAE.
The incorporation of the said subsidiary in the UAE would give vast business exposure to the company in Gulf Countries, it added.
Cupid engaged in the business of dealing, marketing and manufacture of rubber contraceptives and allied prophylactic products.