Cupid added 1.06% to Rs 95.92 after the company announced that it has received an initial order from Cipla Health to manufacture a range of male condoms under the 'Cipla' brand.
Following this initial rollout, Cipla Health has committed to placing regular, sizeable orders for male condoms with Cupid Limited in the coming quarters.
Swapnil Dhage, marketing manager at Cupid, said: "We have had productive discussions with the Cipla Health team and are excited about this long-term and mutually beneficial partnership. Securing this initial order is a significant milestone for us, and we look forward to growing our business with Cipla Health.
Cupid is dedicated to manufacturing top-quality products, whether under our brand or for established players and new market entrants. We are enthusiastic about taking on all opportunities to deliver excellence."
Cupid is India's premier manufacturer of male and female condoms, water-based lubricant jelly, and IVD kits. The company boasts a production capacity of up to 480 million male condoms, 52 million female condoms, 210 million sachets of lubricant jelly and 20 million IVD Test Kits annually.
The company had reported a net profit of Rs 23.57 crore in Q4 FY24, which is significantly higher as compared with a PAT of Rs 9.28 crore in Q4 FY23. Revenue from operations rose by 52% year-over-year (YoY) to Rs 62.89 crore in the fourth quarter.
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