Zydus Lifesciences Q1 Results FY2023, PAT at Rs. 5183 million
On 10th August 2022, Zydus Lifesciences announced its quarterly results for the first quarter of FY2023.
Q1FY23 Key Highlights:
- Revenue from operations at Rs. 40,727 million, up 2% over last year.
- Research & Development (R&D) investments for the quarter stood at Rs. 2,842 million (7.0% of revenues).
- Reported EBITDA for the quarter was Rs. 8,330 million, down 14% YoY. EBITDA margin for the quarter stood at 20.5%.
- Reported Net Profit for the quarter was Rs. 5,183 million, down 12% YoY. Adjusted for exceptional items and loss from discontinued operations, Net Profit for the quarter was Rs. 5,295 million, down 11% YoY.
Business Highlights:
INDIA:
- Registered revenues of Rs. 18,167 million, down 6% YoY. Excluding sales of COVID related products, the business grew 12% YoY
- Formulations business registered revenues of Rs. 11,251 million, down 17% YoY. Excluding sales of COVID related products, generics portfolio and divested products, the branded prescription business grew 9% YoY. The business accounted for 29% of consolidated revenues.
- Consumer Wellness business registered revenues of Rs. 6,916 million, up 18 % YoY. The business accounted for 17% of consolidated revenues.
US FORMULATION BUSINESS:
- Registered revenues of Rs. 15,592 million, up 9% YoY and 10% QoQ. The business accounted for 40% of consolidated revenues.
- In constant currency terms, the business registered revenues of US$ 202 million.
- Filed 8 ANDAs and received approval for 7 new products (including 1 tentative approval) during the quarter.
EMERGING MARKETS FORMULATION BUSINESS:
- The business sustained growth momentum and registered revenues of Rs. 3,155 million, up 14% YoY. The business accounted for 8% of consolidated revenues.
- Growth during the quarter was broad based across most of the geographies.
EUROPE FORMULATION BUSINESS:
- Registered revenues of Rs. 614 million, up 3% YoY. The business accounted for 2% of consolidated revenues.
API BUSINESS:
- Registered revenues of Rs. 1,224 million, down 10% YoY. The business accounted for 3% of consolidated revenues.
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