Zydus Lifesciences announced a significant 26 percent increase in consolidated net profit, reaching Rs 789.6 crore for the December quarter of the financial year 2023-2024.
The pharmaceutical company, headquartered in Ahmedabad, reported a profit of Rs 622.9 crore in the corresponding period last year. Revenue from operations also saw a notable uptick, standing at Rs 4505.2 crore, marking a 5.8 percent increase from Rs 4257.1 crore in the previous fiscal year.
In an exchange filing, the company disclosed its board’s approval for the buyback of 57.9 lakh shares worth Rs 600 crore at Rs 1,005 per share through the tender offer route.
Zydus Lifesciences reported earnings before interest, taxes, depreciation, and amortization (EBITDA) at Rs 1,102 crore, up from Rs 956 crore in the same period last year. The EBITDA margin also saw an improvement, rising to 24.4 percent from 22.5 percent a year ago.
Dr. Sharvil Patel, Managing Director of Zydus Lifesciences Limited, expressed optimism about the company’s growth prospects, citing a differentiated portfolio in the US market and the continued performance of key brands, supported by robust execution capabilities.
