Zydus Lifesciences Limited reports financial performance for Q3 & 9M FY24

Zydus Lifesciences Limited has announced the financial results for the period Q3 FY24 and 9M FY2024.

Key Financial Highlights

Q3 FY24

- Revenue from operations at Rs. 45,052 mn, up 6% over last year.
- Research & Development (R&D) investments for the quarter stood at Rs. 3,146 mn (7.0% of revenues).
- EBITDA for the quarter was Rs. 11,024 mn, up 15% YoY. EBITDA margin for the quarter stood at 24.5%, an improvement of 200 bps on a YoY basis.
- Net Profit for the quarter was Rs. 7,896 mn, up 27% YoY.
- Capex (organic) for the quarter was Rs. 2,137 mn.

9M FY24

- Revenue from operations at Rs. 140,136 mn, up 15% over last year.
- Research & Development (R&D) investments stood at Rs. 9,580 mn (6.8% of revenues).
- EBITDA was Rs. 37,538 mn, up 44% YoY. EBITDA margin stood at 26.8%, an improvement of 550 bps over the previous year.
- Net Profit was Rs. 26,772 mn, up 61% YoY.
- Capex (organic) for the nine months period was Rs. 6,502 mn.

We are pleased with our Q3 FY24 performance, particularly with a strong recovery in the domestic formulations business and a resilient US base business. Importantly, our journey of sustained profitability improvement continues and we hope to sustain the same. We are optimistic about our growth prospects driven by a differentiated portfolio in the US, continued performance of key brands, well supported by a robust execution engine. We remain on track to end the fiscal year 2024 with a healthy double-digit revenue growth and expect to improve EBITDA margins to 27% plus levels. Dr. Sharvil Patel, Managing Director - Zydus Lifesciences Limited.

The Board approved the proposal to buyback equity shares for an aggregate amount upto Rs. 6000 mn (excluding tax and other charges), being 0.59% of total outstanding equity shares at a price of Rs. 1005 per share (25% premium to closing price of 8th February, 2024).

Shares of Zydus Lifesciences Limited was last trading in BSE at Rs. 805.60 as compared to the previous close of Rs. 801.85. The total number of shares traded during the day was 129656 in over 6017 trades.

The stock hit an intraday high of Rs. 821.30 and intraday low of 769.10. The net turnover during the day was Rs. 103622566.00.

Source : Equity Bulls

Keywords

ZydusLifesciences INE010B01027 Q3FY24 9MFY24 ResultUpdate