Indegene Reports Strong Financial Performance For FY24, Revenue Surpasses Rs 2,500 Crores

Indegene, a provider of digital solutions for the global life sciences industry, has announced its consolidated financial results for the quarter ended March 31, 2024, and the fiscal year ended March 31, 2024. The company reported robust revenue growth, crossing the Rs 2,500 crores milestone, along with significant earnings growth, with earnings per share (EPS) up by 25 per cent.

For the fiscal year 2023-24, Indegene witnessed a 12.3 per cent year-on-year (YoY) growth in revenue, reaching Rs 25,896 million. Additionally, the company's earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 28.6 per cent, and profit after tax (PAT) surged by 26.5 per cent YoY. The EBITDA margin and PAT margin also saw substantial improvements, with increases of 286 basis points (bps) and 146 basis points, respectively, compared to the previous fiscal year.

In the fourth quarter of FY24, Indegene recorded a revenue of Rs 6,730 million, marking a 6.5 per cent YoY growth. Despite a slight quarter-on-quarter (QoQ) decrease of 0.1 per cent, the company demonstrated strong performance, with EBITDA growing by 48.7 per cent YoY and profit before tax (PBT) increasing by 68.7 per cent YoY.

Manish Gupta, Chairman, and Chief Executive Officer of Indegene , expressed satisfaction with the company's performance, highlighting its position as a digital-first commercialisation partner for the global life sciences industry. With 63 active clients, including all of the top 20 global pharmaceutical companies, Gupta emphasised Indegene's significant role in mirroring the industry's operational spending.

Suhas Prabhu, Chief Financial Officer of Indegene Limited, attributed the company's financial success to operational excellence, cost optimisation, and value-driven service delivery.