|
Profit before tax grew by 61.7% year on year to Rs 140.74 crore in the quarter ended 30 June 2023.
EBITDA stood at Rs 122 crore in Q1 FY24, registering the growth of 56.4% as compared with Rs 78 crore recorded in corresponding quarter last year.
EBITDA margin in this quarter has increased to 22.7% as against 15.8% in Q1FY23.
Total expenses fell 0.5% to Rs 414.37 crore in Q1 June 2023 over Q1 June 2022. During the quarter, cost of materials consumed stood at Rs 155.76 crore (down 2.5% YoY) while employee benefits expense was at Rs 106.25 crore (up 7.8% YoY).
In the first quarter of FY24, sales in the India formulations segment amounted to 445, marking a 5.7% growth. The US formulations segment showed significant growth, with sales reaching 36, representing a noteworthy 29.8% increase. Sales in the Emerging Markets segment amounted to 33, indicating a promising growth rate of 16.5%. The API sales segment experienced robust growth, with sales reaching 22, reflecting an 26.9% increase.
Furthermore, FDC's board approved a proposal to buyback 31,00,000 fully paid-up equity shares having face value of Re 1 each at a price of Rs 500 per equity share for an aggregate amount not exceeding Rs 155 crore. The buyback will be on proportionate basis through the tender offer route. The buyback is expected to be completed by the end of 2023.
FDC is engaged in manufacturing and marketing of ORS (oral rehydration salts), anti-infectives and ophthalmics.
|