Zydus Lifesciences Q1 PAT slips 11% YoY to Rs 518 cr

10 Aug 2022 , 01:38 PM

EBITDA decliend by 14.3% to Rs 833 crore in Q1 FY23 from Rs 971.9 crore in Q1 FY22. EBITDA margin de-grew to 20.5% in Q1 FY23 as against 24.3% in Q1 FY22. Profit before tax in Q1 FY23 stood at Rs 683.9 crore, down by 14.8% from Rs 802.9 crore in Q1 FY22. Total expenses slipped marginally by 0.18% to Rs 1049.4 crore in the quarter ended 30 June 2022. Cost of raw material consumed stood at Rs 851.1 crore (down 19% YoY) and employee expenses stood at Rs 681 crore (up 9.2% YoY) in Q1 FY23. Research & Development (R&D) investments for the quarter stood at Rs 28.42 crore (7% of revenues). Capex (organic) for the quarter was Rs 28.28 crore and Net cash as on 30 June 2022 stood at Rs 56.28 crore. The pharma company filed 8 abbreviated new drug applications (ANDA) and received approval for 7 new products (including 1 tentative approval) during the quarter. Filings for the quarter include 3 filings designated as competitive generic therapies (CGT) while approvals include 1 first cycle approval and launched 8 new products during the quarter. Dr. Sharvil Patel, managing director of Zydus Lifesciences said, We are encouraged by our stable Q1 FY23 performance, particularly with the rebound in US business even as Consumer Wellness and Emerging Markets sustained growth momentum. India branded formulations business, adjusting for COVID impact delivered healthy growth and we expect to improve further. Focus on cost optimization helped us sustain 20% plus EBITDA margins amid input cost pressures. We continue to advance our Innovation pipeline to build a strong foundation for future. Zydus Lifesciences is a discovery-driven, global lifesciences company that discovers, develops, manufactures, and markets a broad range of healthcare therapies. The scrip rose 0.82% to currently trade at Rs 363.55 on the BSE. Powered by Capital Market – Live News