Zydus Lifesciences Q1 net profit rises 31% to Rs 1,420 cr on higher sales

Zydus Lifesciences on Friday said its consolidated net profit increased 31 percent year on year to Rs 1,420 crore in the first quarter ended June 2024 on the back of robust sales. The drug maker had reported a net profit of Rs 1,087 crore in the April-June quarter of last fiscal. Revenue from operations rose to Rs 6,207 crore in the period under review as compared to Rs 5,140 crore in the June quarter of FY24, Zydus Lifesciences said in a statement.

"Sustained growth momentum across our businesses along with enhanced profitability drove our strong Q1 performance," Zydus Lifesciences Managing Director Sharvil Patel said. Execution success of the company's differentiated pipeline in the US and outperformance of India's geography business were particularly noteworthy, he added.

"We are on course to achieve our growth aspirations for FY25 and are committed to investing in sustainable growth initiatives and innovative solutions for the future," Patel said. The company said its India sales stood at Rs 2,212 crore in the June quarter, up 15 percent, as compared to Rs 1,921 crore in the year-ago period. The US formulation sales stood at Rs 3,093 crore in the first quarter, up 26 percent year on year as against Rs 2,454 crore in the year-ago period. Shares of Zydus Lifesciences on Friday ended 1.91 percent up at Rs 1,304 apiece on the BSE.