Bajaj Healthcare reports turnaround Q2 performance

Bajaj Healthcare reported standalone net profit of Rs 94.64 crore in Q2 FY25 as compared with net loss of Rs 34.60 crore in Q2 FY24.

Revenue from operations jumped 31.5% YoY to Rs 133.08 crore in Q2 FY25.

Profit before tax (PBT) surged 137.4% to Rs 12.44 crore in Q2 FY25 as compared with Rs 5.24 crore posted in same quarter last year.

EBITDA stood at Rs 24.52 crore during the quarter, registering the growth 29.4% as compared with Rs 189.5 crore in Q2 FY24. EBITDA fell to 18.4% in Q2 FY25 as compared with 18.7% in Q2 FY24.

In Q2 FY25, revenue from opium processing skyrocketed 582.9% YoY to Rs 13.66 crore, while API (domestic) and formulations jumped 21.8% and 27.7% YoY, respectively. API (exports) grew 12.3% YoY to Rs 29.20 crore.

Anil Jain, managing director, Bajaj Healthcare, said, I am delighted to present the impressive results of our second quarter for FY25. Our revenue from operations surged by approximately 32% year-on-year led by robust performance across all segments this coupled with expansion in our margins resulted in a 90% year-on-year increase in our bottom line from our continuing operations

We continue to undertake all efforts to sell the assets from the discontinued operations and to use the proceeds for further debt repayment and minimize the losses from the discontinued operations.

We have materially repaid our borrowings to the tune of Rs 150.0 crore and this has further strengthened our financial position.

Contribution from our API and Formulation segments rose, with both registering strong growth at 19% and 28%, respectively. The domestic demand has remained quite encouraging and has been a source of strength even as export markets are still largely wrestling sticky inflation and elevated freights. Another key highlight was the exceptional performance of our Opium Processing business, which grew multi-fold year-on-year. The segment has quickly become a meaningful growth driver for our overall business. We are focused on expanding capacity to meet increasing government requirements and sustain its high growth trajectory going forward."

Bajaj Healthcare a leading manufacturer of APIs, intermediates and formulations. It has a strong presence globally in countries like Europe, USA, Australia, Africa, Middle East and South America.

The counter rallied 7.75% to settle at Rs 390.75 on Thursday, 14 November 2024.

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