Zydus Lifesciences Q2 profit rises 53 % at Rs 801 cr

New Delhi: Zydus Lifesciences Ltd on Tuesday reported 53.2 per cent rise in consolidated net profit at Rs 800.7 crore for the second quarter ended September 30, 2023, driven by stable growth across its key businesses.

The company had posted a net profit of Rs 522.5 crore for the same period last fiscal,  Zydus Lifesciences said in a regulatory filing.

Revenue from operations in the quarter under review stood at Rs 4,368.8 crore as against Rs 4,005.5 crore in the year-ago period, it added.

"Our Q2 FY24 result represents stable growth in our key businesses as well as strong profitability," Zydus Lifesciences Managing Director Sharvil Patel said.

The company said its India geography, comprising formulations as well as consumer wellness businesses, accounted for 42 per cent of the consolidated revenue, clocking Rs 1,769.3 crore at a growth of 5 per cent year-on-year.

The US formulations business registered revenue of Rs 1,864.8 crore, up 9 per cent YoY, while the emerging markets and Europe formulations business clocked Rs 450.4 crore revenue.

The API (active pharmaceutical ingredients) business registered 26 per cent growth in revenue at Rs 140.2 crore, accounting for 3 per cent of the total revenue, the company said.

On the outlook, Patel said, "Going ahead, differentiated launches in the US, in addition to a rebound in India business growth, which was constrained by delayed seasonality, will be critical drivers. We anticipate sustained momentum in profitability and aim for EBITDA margins of more than 24 per cent in the current fiscal year."