Zydus Lifesciences Q2 net profit down 82.6% to Rs 523 cr on rising costs
Shares of the company were trading at Rs 427.70, down 1.4% at 0847 GMT
 "cash, currency, notes, funds, investment, shares, growth, profit, loss, tax, money, income, earnings")
Earnings before interest, taxes, depreciation and amortization (EBITDA) shrank 9.4% to 8.15 bln rupees a year ago
Zydus Lifesciences on Friday reported an 82.6% slump in second-quarter profit hit by rising expenses, sending its shares down 1.5%. Consolidated profit for the three months ended Sept. 30 was Rs 523 crore ($64.69 million), compared with Rs 3,002 crore a year ago, the company said in an exchange filing.
Analysts on average had expected a profit of 5.52 bln rupees, according to Refinitiv IBES data.
The Ahmedabad-based company's total expenses climbed 15.3% to Rs 3,536 crore from a year ago. Earnings before interest, taxes, depreciation and amortization (EBITDA) shrank 9.4% to 8.15 bln rupees a year ago.
The company will "steadily" improve profitability going ahead, and remain on track to deliver 20% plus EBITDA margin in this fiscal, Managing Director Sharvil Patel said.
Overall revenue from operations climbed 9.97% to Rs 4,135 crore. Shares of the company were trading at 427.70 rupees, down 1.4% at 0847 GMT.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
More From This Section
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Nov 11 2022 | 3:36 PM IST