Serum Institute tops profit charts among unlisted firms amid Covid war

Surge in demand for Covishield led to a huge spike in its revenues and profits

Pandemic-led changes in the global and domestic economy have yielded big gains for corporations across many sectors.

Pune-based vaccine maker Serum Institute of India (SII) seems to be one of the biggest gainers among them. The global surge in demand for its Covishield vaccine, a prophylactic for Covid-19, led to a big spike in SII’s revenues and profits in the last two years.

The company’s revenues more than tripled in FY22 over the previous year and it became the most profitable unlisted company and the most profitable pharma maker in the country by a big margin.

The company’s net profit