On net sales of ₹5,446 crore, Serum earned a net profit of ₹2,251 crore. Between 2008-09 and 2015-16, Serum’s revenues grew at a compounded annual rate of 23% to ₹4,630 crore and net profit at 28% to ₹2,191 crore. But between 2015-16 and 2019-20, revenue growth fell to 4% and net profit stayed flat, even though profit margins still remained high. So far, in about four months, it has supplied a total of 150 million doses. At that price, 500 million doses translates into revenues of ₹15,000 crore—about thrice of what Serum currently does in a year.

Source: Mint May 11, 2021 05:43 UTC