Q2 Results: Zydus Lifesciences Net Profit Slumps By 82.5% QoQ, Revenue At Rs 4,134.7 Cr

The Indian pharmaceutical major Zydus Lifesciences reported its quarter two earnings on Friday, the pharma company recorded a consolidated revenue worth Rs 4,134.7 crores for the quarter that ended in September 2022, against Rs 3,759.8 crores in the same quarter in the previous year, registering a 1.5 rise year on year.

Zydus Lifesciences registered a net profit of Rs 522.5 crores in the second quarter against Rs 3002.3 crores registered in the corresponding quarter of the last year, a slump of 82.5 per cent year on year.

The pharma company EBTIDA for the September quarter stood at Rs 815.3 crores, compared with Rs 899.5 recorded in the corresponding quarter in the previous year, a drop of over 9 per cent year on year.

Zydus's Research & Development (R&D) investments for the quarter stood at Rs 253.3 crores amounting to 6.1 per cent of its revenues.

"Our Q2 FY23 performance reflects strong execution in our key businesses, sustaining growth momentum and profitability. While new launches including Revlimid aided US growth, India Formulations continued to deliver double-digit growth, excluding COVID-related revenues," said Dr. Sharvil Patel, Managing Director, Zydus Lifesciences.

Dr Patel said that the company expects an improvement in its profitability steadily going ahead, and remain on track to deliver 20 per cent plus EBITDA margins for the current fiscal. "We are delighted with the resolution of regulatory issues at Moraiya and remain committed to enhance quality and compliance standards across our manufacturing network," he added.

The company's stock traded 1.76 per cent lower at Rs 426.05 a piece on Friday as of 14:11 IST.