Zydus Lifesciences Q1 Results: Profit up 2-fold at Rs 1,087 crore
Zydus Lifesciences Q1 Results: Zydus Lifesciences Ltd on Friday reported over two-fold rise in consolidated net profit at Rs 1,086.9 crore for the first quarter ended June 30, 2023, driven by strong sales growth from US formulations.
Zydus Lifesciences Q1 Results: Zydus Lifesciences Ltd on Friday reported over two-fold rise in consolidated net profit at Rs 1,086.9 crore for the first quarter ended June 30, 2023, driven by strong sales growth from US formulations. The company had posted a net profit of Rs 518.3 crore for the same quarter last fiscal, Zydus Lifesciences said in a regulatory filing.
Revenue from operations during the quarter under review stood at Rs 5,139.6 crore as against Rs 3,964.4 crore in the year-ago period, up 29.6 per cent.
India geography clocked sales of Rs 1,920.6 crore in the first quarter as compared to Rs 1,816.7 crore in the corresponding period a year ago.
Sales from US formulations were at Rs 2,454.1 crore as compared to Rs 1,559.2 crore in the same quarter a year ago, up 57.4 per cent, the company said.
Active pharmaceutical ingredients clocked sales of Rs 138.9 crore in the first quarter as against Rs 122.4 crore in the corresponding quarter last fiscal, it added.
During the quarter, the company witnessed broad-based operational growth in its key businesses and a favourable product mix enhanced profitability, Zydus Lifesciences Managing Director Sharvil Patel said.
"Strong execution and volume offtake drove revenue ramp-up in the US, while India branded formulations business, adjusting for NLEM (national list of essential medicines) impact delivered solid 12 per cent growth," he added.
On the outlook, he said, "We remain reassured on achieving profitable growth aspirations for the fiscal year and thereby enhance stakeholder value."
Catch latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Senior Citizen Latest FD Rates: Know what major banks like SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank are providing on fixed deposits
Gratuity Calculator: Rs 38,000 as last-drawn basic salary, 5 years and 5 months of service; what will be gratuity amount?
EPFO Pension Schemes: Early pension, retirement pension, nominee pension and 4 other pension schemes that every private sector employee should know
Top 5 Small Cap Mutual Funds with best SIP returns in 1 year: See how Rs 25,000 monthly investment has grown in each scheme
Top 7 SBI Mutual Funds With Best SIP Returns in 1 Year: Rs 25,000 monthly SIP investment in No.1 fund has jumped to Rs 3,58,404
02:18 PM IST