Ahmedabad-based Zydus Lifesciences posted a 30.66 per cent year-on-year (Y-o-Y) increase in profit after tax (PAT) during the first quarter of the financial year 2024-25, concluding on June 30, reaching Rs 1,482.5 crore. Zydus’s revenue from operations increased by 20.79 per cent Y-o-Y to Rs 6,207.5 crore.
On a sequential basis, the company exhibited a 12.17 per cent increase in revenue, with the PAT also increasing by 19.27 per cent. The Ebitda (earnings before interest, tax, depreciation, and amortisation) margin rose 38.4 per cent Y-o-Y, reaching Rs 2,084 crore.
Speaking on the results, Sharvil Patel, Managing Director, Zydus Lifesciences, stated, “Sustained growth momentum across our businesses, along with enhanced profitability, drove our strong Q1 performance. Execution success of our differentiated pipeline in the US and outperformance of our India geography business were particularly noteworthy. With a focus on quality excellence, we will continue to align our processes and strengthen compliance.”
For this quarter, India geography contributed 37 per cent to consolidated revenues, comprising Formulations and Consumer Wellness businesses. It recorded a 15 per cent Y-o-Y revenue growth, reaching Rs 2,212.4 crore.
The Formulations business, accounting for 23 per cent of consolidated revenues, grew by 12 per cent Y-o-Y to Rs 1,375.8 crore. The branded formulations business outperformed the market in both chronic and acute segments, driven by strong volume growth of pillar and innovative products.
Ten new products were launched, including three industry firsts.
The Consumer Wellness business contributed 14 per cent to consolidated revenues, growing 21 per cent Y-o-Y to Rs 836.6 crore, primarily due to a 17 per cent volume increase. The personal care segment, led by Nycil and EverYuth, continued its strong double-digit growth. The food and nutrition segment recovered and posted double-digit growth.
The US Formulations business contributed 51 per cent to consolidated revenues in Q1, growing 26 per cent Y-o-Y and 23 per cent Q-o-Q to Rs 3,092.9 crore ($371 million in constant currency). Growth was fuelled by new product launches and increased volume in the core portfolio.
Seven new products were introduced, including the second 505(b)(2) product, Zituvimet, for metabolic disorder management, and Mirabegron ER tablets. Five ANDAs were filed, and six product approvals (including two tentative) were secured during the quarter.
In Q1, the International Markets Formulations business accounted for 9 per cent of consolidated revenues, growing 9 per cent Y-o-Y to Rs 530.9 crore.
The API business contributed 2 per cent to consolidated revenues, growing 2 per cent Y-o-Y to Rs 141.5 crore. Alliances and others contributed 1 per cent to consolidated revenues, growing 38 per cent Y-o-Y to Rs 68.8 crore.
First Published: Aug 09 2024 | 6:41 PM IST
