Key highlights of Q1 FY23
Ø Revenue from Operations at INR 6,235.9 Cr increased by 9.4% YoY
· US formulations revenue increased by 10.8% YoY to INR 2,971.1 Cr
· Europe formulation revenue stood at INR 1,548.1 Cr, with decrease of 2.2% YoY mainly due to Euro currency depreciation
· Growth Markets grew by 30.8% YoY to INR 430.6 Cr
· ARV revenue improved by 28.1% YoY to INR 379.6 Cr
· API revenue increased by 11.6% YoY to INR 906.5 Cr
Ø EBIDTA before Forex and Other income stood at INR 964.7 Cr; EBITDA margin for the quarter was 15.5 %
Ø Research & Development (R&D) spend at INR 310 Cr, 5.0 % of revenues (Q1 FY22: 6.3%) Received final approval for 10 ANDAs including 4 injectable products from the USFDA
Ø Net Profit stood at INR 520.5 Cr as against INR 576.4 Cr in the previous quarter Basic & Diluted EPS is INR 8.88 per share
Commenting on the Company’s performance, Mr. K. Nithyananda Reddy, Vice-Chairman and Managing Director of the Company said: “We delivered a good performance amidst challenging environment, while reinforcing our growth pillars. Investments in product portfolio continued at a healthy pace as reflected in the filings and launches in the quarter. Our focus on the development of specialty products pipeline will establish new avenues to grow the business in future. This along with our aim to drive sustained improvement in profitability through newer avenues will enhance improved profitability over medium to long term.”
