Zydus Lifesciences Q1 Results: Net profit doubles to Rs 1,087 crore, revenue jumps 30%
Zydus Lifesciences on Friday reported two-fold year-on-year (YoY) jump in net profit to Rs 1087 crore in Q1FY24 led strong sales from US, India and other markets. The net profit was Rs 518 crore during corresponding quarter of the previous year.
Revenues rose 30% YoY to Rs 5140 crore. EBITDA rose 81% YoY at Rs1505 crores, with EBITDA margins of 29.3% vs 21% in corresponding previous quarter.
US business grew by 57% YoY at Rs 2454 crore. India branded formulations grew by almost 12%, excluding impact of NLEM related price cut affecting some key products.
Emerging markets and Europe business grew by 30% YoY. «We are delighted to deliver strong performance during the quarter with broad based operational growth in our key businesses and a favourable product mix enhancing our profitability,» said Sharvil Patel, MD of Zydus.
«Strong execution and volume offtake drove revenue ramp-up in the US, while the India branded formulations business, adjusting for NLEM impact delivered solid 12% growth. We remain reassured on achieving profitable growth aspirations for the fiscal year and thereby enhance stakeholder value,» Patel added.
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