Romanian drug manufacturer Zentiva Romania (BVB: SCM) reported an almost nine-fold increase in profit in the first three months of the year, to over RON 42 mln (EUR 8 mln), according to data published by the company.

The surge comes amid "increased sales," the company briefly explains in the report quoted by Ziarul Financiar.

Zentiva's turnover posted an increase of 36% y/y in Q1/2023, reaching RON 230 mln.

Zentiva's significant evolution in profit and turnover comes despite the fact that raw material expenses increased in the first three months of the year by 17%, up to RON 117 mln.

The company has a market capitalisation of RON 1.35 bln (EUR 270 mln).

iulian@romania-insider.com

(Photo source: Zentiva)