Zydus Lifesciences Q1 FY25 Results: PAT up 31%, revenue up 21%

3 minutes of reading Last update: August 09, 2024 | 18:42 IST

Ahmedabad-based Zydus Lifesciences reported a 30.66 per cent year-on-year (YoY) growth in profit after tax (PAT) in the first quarter of fiscal 2024-25 ending June 30, reaching Rs 1,482.5 crore. Zydus’ operating revenue rose 20.79 per cent YoY to Rs 6,207.5 crore.

On a sequential basis, the company reported 12.17 per cent growth in revenue while PAT also grew by 19.27 per cent. EBITDA (earnings before interest, tax, depreciation and amortisation) margin grew by 38.4 per cent year-on-year to Rs 2,084 crore.

Speaking on the results, Sharvil Patel, Managing Director, Zydus Lifesciences, said, “Sustained growth momentum across our businesses, along with improved profitability, fueled our strong performance in the first quarter. The successful execution of our diversified pipeline in the US and the improved performance of our geographic business in India were particularly noteworthy. With our focus on quality excellence, we will continue to align our processes and strengthen compliance.”

During the quarter, the India geography contributed 37 per cent to consolidated revenue, comprising Formulations and Consumer Wellness. It recorded a 15 per cent YoY growth in revenue, reaching Rs 2,212.4 crore.

The Formulations business, accounting for 23 per cent of consolidated revenue, grew 12 per cent year-on-year to Rs 1,375.8 crore. The branded formulations business outperformed the market in both chronic and acute segments, driven by strong volume growth in pillar and innovative products.

Ten new products were introduced to the market, including three industry firsts.

The Consumer Wellness business contributed 14 per cent to consolidated revenue, growing 21 per cent year-on-year to Rs 836.6 crore, mainly due to 17 per cent growth in volume. The personal care segment, led by Nycil and EverYuth, continued its strong double-digit growth. The food and nutrition segment recovered from losses and grew in double digits.

The US Formulations business contributed 51 percent to consolidated revenue in Q1, up 26 percent year-on-year and 23 percent quarter-on-quarter to Rs 3,092.9 crore ($371 million at constant currency). Growth was driven by new product launches and increased volume in the core portfolio.

Seven new products were launched, including a second 505(b)(2) product, Zituvimet, for the treatment of metabolic disorders and Mirabegron ER tablets. Five ANDAs were filed and six product approvals (including two preliminary) were secured during the quarter.

In Q1, the International Markets Formulations segment contributed 9 per cent to consolidated revenue, up 9 per cent year-on-year to Rs 530.9 crore.

API business contributed 2 per cent to consolidated revenue, growing 2 per cent year-on-year to Rs 141.5 crore. Alliances and other businesses contributed 1 per cent to consolidated revenue, growing 38 per cent year-on-year to Rs 68.8 crore.

First published: August 09, 2024 | 18:41 IST