Zydus Lifesciences clocks 109% y-o-y growth in Q1FY24 net profit

11 Aug 2023 , 01:35 PM

Zydus Lifesciences reported a 109% y-o-y increase in consolidated net profit for the April-June quarter of fiscal year 2023-2024. In the same quarter of previous fiscal year, the pharma company generated a net profit of Rs 518.3 crore. 

According to an exchange report, revenue for the quarter was Rs 5,139.6 crore, up 29.6% from Rs 3,964.3 crore in the same quarter of the previous fiscal.

The Ahmedabad-based firm posted EBITDA of Rs 1,503.3 crore, up from Rs 833 in the previous corresponding quarter. The EBITDA margin was 29.3%, up from 20.5% in the same quarter previous year.

During the reported quarter, US formulations accounted for 48% of sales. During the quarter, the business filed four ANDAs (Abbreviated New Drug Applications) and introduced four new products in the US market.

In India, the branded formulations business increased by 10% year-on-year. This category accounted for 24% of the revenue recorded in this quarter. This quarter’s revenue was 14% attributed to the Consumer Wellness business. Unseasonal rainfall in the first half of the quarter impacted Glucon-D use. The rest of the wellness portfolio grew by double digits.

At around 1.28 PM, Zydus Lifesciences was trading 1.25% lower at Rs 649.60, against the previous close of Rs 657.85 on NSE.

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