Zydus Lifesciences on August 11 reported a 109 percent growth in consolidated net profit at Rs 1,086.9 crore for the April-June quarter of the financial year 2023-2024. The pharma company had reported a net profit of Rs 518.3 crore in the year-ago period.
Revenue for the quarter came in at Rs 5,139.6crore, 29.6 percent higher than Rs 3,964.3 crore in the same quarter of the previous fiscal, the company said in an exchange filing.
The bottom line and top line were above CNBC TV-18's estimates of Rs 880.7 crore and Rs 5,075.8 crore, respectively.
The Ahmedabad-based company reported earnings before interest, taxes, depreciation and amortization (EBITDA) at Rs 1,503.3 crore, up from Rs 833 in the year-ago period. The EBITDA margin was at 29.3 percent, up from 20.5 percent in the year-ago quarter.
US formulations contributed to 48 percent of the revenue during the reported quarter. The company filed 4 ANDAs (Abbreviated New Drug Application) and launched 4 new products during the quarter in the US market.
Branded formulations business in India delivered 10 percent growth YoY. This segment contributed to 24 percent of the revenue reported in this quarter. Consumer Wellness business contributed to 14 percent of the revue of this quarter. Unseasonal rains during the first half of the quarter impacted the off take of Glucon-D. Rest of the wellness portfolio posted near double digit growth.
The company spent Rs 3,23.9 crore on research and development (R&D) which was 6.3 percent of revenues in the April-June quarter.
Shares of the company are down 0.83 percent at Rs 652.40, after the announcement of the quarterly earnings at 12.49 pm on NSE.
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