Zydus Lifesciences Q3 Results FY2023, PAT at Rs. 6229 million

On 3rd February,  Zydus Lifesciences announced its results for the third quarter of FY2023.

Key Highlights:

- Revenue from Operations at Rs. 43,623 million, up 20% over last year. 
- Research & Development (R&D) investments for the quarter stood at Rs. 3,435 million (7.9% of revenues). 
- EBITDA for the quarter was Rs. 9,560 million, up 27% yoy. EBITDA margin for the quarter was 21.9% against 20.6% in Q3 FY22. 
- Net Profit for the quarter was Rs. 6,229 million, up 24% yoy. 

Business Highlights:

- The Indian business registered revenues of Rs. 16,436 million, up by 13% yoy. 
- The formulation business, registered revenues of Rs. 12,316 million, up by 14% yoy.
- Consumer Wellness business registered revenues of Rs. 4,120 million, up by 8 % yoy
- US formulations business registered revenues of Rs. 19,250 million, up by 29% yoy 
- Emerging Markets (EM) formulations business continued to deliver double digit growth as it registered revenues of Rs. 3,078 million, up 15% yoy.
- Europe formulations business registered revenues of Rs. 705 million, up by 4% yoy.
- API business registered revenues of Rs. 1,881 million, up 14% yoy.
- Alliances & Others registered revenues of Rs. 248 million, down 55% yoy.

Commenting on the results, Dr. Sharvil Patel, Managing Director - Zydus Lifesciences Limited said: “We are pleased with our Q3 FY23 performance showcasing robust growth across key businesses and improved profitability. With India Formulations in a double-digit growth trajectory and US business continuing to build traction, portfolio execution will sustain growth momentum. We aim to enhance profitability steadily going ahead while remaining committed to build long term growth levers. Our commitment to maintaining high quality standards and an agile supply chain positions us well to capitalize on our R&D pipeline and advance our innovation efforts.”