New Delhi, Nov 4 (PTI) Zydus Lifesciences on Wednesday posted a 26.6 per cent decline in consolidated net profit to Rs 925.5 crore in the September quarter weighed down by an increase in expenses.
The company had posted a net profit of Rs 1,260.9 crore in the corresponding period of the previous fiscal year, it said in a regulatory filing to the exchanges.
Revenue from operations rose to Rs 7,909.6 crore during the quarter under review from Rs 6,123.2 crore in the year-ago period, it said.
Zydus' total expenses rose sharply to Rs 6,806.6 crore during the quarter from Rs 4,509 crore in the same period last year.
During the quarter, pharma business contributed to 83 per cent of Zydus' sales, the company said in a media release.
Its India formulations business registered revenues of Rs 1.884.4 crore, up 18 per cent year-on-year, while the North America formulations business registered revenues of Rs 3,314.5 crore, rising 21 per cent, driven by sustained volume expansion in base business supplemented by continued scale-up of the US specialty business, the company said.
"Our Q2 performance reflects strong, all-round momentum, spearheaded by our branded businesses in India, international markets and wellness. Notably, the share of branded sales in the US has risen to 16 per cent, underscoring our steady shift towards a more differentiated, specialty-led portfolio," Zydus Lifesciences Managing Director Sharvil Patel said.
"We look forward to the approval and launch of Saroglitazar in the US, our first indigenously discovered NCE, which marks a pivotal point in our evolution," he added.
During the April-September period in FY27, the pharma company's net profit declined 30.86 per cent to Rs 1,885.9 crore from Rs 2,727.7 crore a year earlier, the filing said.
Shares of Zydus Lifesciences were trading 3.35 per cent lower at Rs 1,197.50 apiece on the BSE at 1:25 pm.
