Zydus Lifesciences Q1 Results: Zydus Lifesciences Limited announced its consolidated financial results for the first quarter ended June 30 2024. According to the company’s statement, the Net profit of Zydus Lifesciences rose 30.64% to Rs 1419.90 crore in the quarter ended June 2024 as against Rs 1086.90 crore during the previous quarter ended June 2023.
Meanwhile, sales rose 19.67% to Rs 6046.50 crore in the quarter ended June 2024 as against Rs 5052.80 crore during the previous quarter ended June 2023. Sales rise 19.67% to Rs 6046.50 crore.
The India business comprises of Formulations and Consumer Wellness businesses and accounted for 37% of consolidated revenues and the registered revenues of Rs. 22,12.4 crores up 15% YoY.
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The Formulation business registered revenues of Rs. 1375.8 crores, up 12% y-o-y. The business accounted for 23% of consolidated revenues. Branded formulations business grew faster than the market with 13% y-o-y growth. Outpaced the market growth both in chronic and acute segments. The company stated that portfolio of pillar brands and innovation products registered strong volume growth, driving overall growth during the quarter.
It also launched 10 new products (incl. line extensions) with 3 first-in-India launches. The company retained leadership position in the Nephrology segment while in the Oncology space, we remained the fastest growing Indian company. It also outpaced IPM in key therapies of Cardiology, Gynecology, Derma, Respiratory, Anti-infectives and super specialty therapies of Oncology and Nephrology. The share of the chronic portfolio has increased consistently over the years and stood at 41.3%, which is an improvement of 430 bps over the last 3 years as per IQVIA MAT June 2024 data.
The API business registered revenues of Rs. 1,415 mn, up 2% YoY. The business accounted for 2% of consolidated revenues.
From: financialexpress
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