|
Revenue from operations increased by 15% year on year (YoY) to Rs 465.24 crore in the quarter ended 30 September 2023.
Profit before tax in Q2 FY24 was at Rs 44.03 crore, declining 34.48% as against Rs 67.20 crore reported in Q2 FY23.
Total expenses jumped 17.67% YoY to Rs 430.48 crore in Q2 FY24. Cost of materials consumed was at Rs 122.79 crore in Q2 FY24 (up 15.79% YoY) and employee benefit expenses stood at Rs 90.02 crore in Q2 FY24 (up 12.48% YoY) during the quarter.
EBIDTA stood at Rs 72.4 crore in the second quarter of FY24, registering growth of 15.1% from Rs 62.9 crore posted in Q2 FY23. EBIDTA margin improved to 15.6% in Q2 FY24 as compared to 15.2% recorded in the same period a year ago.
Aditi Panandikar, managing director of Indoco Remedies said, ÒOur Q2 performance is primarily driven by International business, API business and sustained performance by Domestic business.Ó
Indoco Remedies is engaged in the manufacturing and marketing of Formulations (finished dosage forms) and active pharmaceutical ingredients (APIs).
The scrip rose 1.42% to end at Rs 350.20 on the BSE.
|