Zydus Lifesciences Q4 Profit Surges 4-Fold to Rs 1,182 cr
May 17, 2024 17:45
Zydus Lifesciences' net profit for the fourth quarter ended March 31, 2024, jumped four-fold to Rs 1,182 crore on higher sales. Revenue also rose to Rs 5,534 crore.
Photograph: Courtesy Zydus.
New Delhi, May 17 (PTI) Zydus Lifesciences on Friday said its consolidated net profit surged four-fold to Rs 1,182 crore for the fourth quarter ended March 31, 2024 on higher sales.
The drug firm had reported a net profit of Rs 297 crore in the January-March quarter of the 2022-23 fiscal.
Revenue from operations rose to Rs 5,534 crore in the period under review from Rs 5,011 crore in the year-ago period, Zydus Lifesciences said in a statement.
For the year ended March 31, 2024, the company reported a consolidated net profit of Rs 3,859 crore as compared with Rs 1,960 crore in FY23. Revenue from operations rose to Rs 19,547 crore from Rs 17,237 crore in the 2022-23 fiscal.
"Our relentless focus on patient centricity, operational efficiency, strategic investments, and execution of our diversified product portfolio continues to pay off, resulting in a significant improvement in profitability as well," Zydus Lifesciences MD Sharvil Patel said.
The company said its board has approved a final dividend of Rs 3 per equity share of Re 1 each, subject to approval of the shareholders.
Shares of the company ended 4.28 per cent up at Rs 1,051.90 apiece on the BSE.
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