Zydus Lifesciences Q3FY23 net profit rises by 23%; Revenue soars 20%

Zydus Lifesciences Ltd reported a 23 per cent rise in consolidated net profit at INR 631 crore for the third quarter ended December 31, 2022. The company had posted a consolidated net profit of INR 511 crore in the same period last fiscal, Zydus Lifesciences Ltd said in a regulatory filing.

Consolidated total revenue from operations during the quarter under review stood at INR 4,362.3 crore, as against INR 3,639.8 crore in the year-ago period, it added. Total expenses in the third quarter were higher at INR 3,620.7 crore, as compared to INR 3,096.3 crore in the corresponding period last fiscal.

In the third quarter, its business in India comprising formulations as well as consumer wellness registered revenues of INR 1,643.6 crore, up 13 per cent, while the US formulations business registered revenues of INR 1,925 crore, up 29 per cent from the year-ago period, the company said. Emerging markets formulations business registered revenues of INR 307.8 crore, up 15 per cent and Europe formulations business clocked revenues of INR 70.5 crore, a growth of 4 per cent.

Zydus Lifesciences Managing Director, Sharvil Patel said, “With India formulations in a double-digit growth trajectory and US business continuing to build traction, portfolio execution will sustain growth momentum.