Spriya Lifescience Q3 FY24 PAT jumps 213% at Rs. 29.79 Cr

Spriya Lifescience Q3 FY24 PAT jumps 213% at Rs. 29.79 Cr

EBITDA for Q3 FY24 almost tripled to reach Rs. 41.49 crore

  • By IPP Bureau | February 09, 2024

Supriya Lifescience Ltd., a cGMP-compliant business with a strong track record in API manufacturing, has announced the unaudited financial result for Q3 FY2024.

In the third quarter of FY24, Supriya Lifescience witnessed remarkable growth in its revenue, reporting a 33.2% year-over-year increase, reaching Rs. 140.07 crore compared to Rs. 105.14 crore in Q3 FY23.

Gross Profit for Q3 FY24 stood at Rs. 85.45 crore, with a growth of 59% compared to Rs. 53.79 crore in Q3 FY23.

EBITDA for Q3 FY24 almost tripled to reach Rs. 41.49 crore, with an EBITDA Margin of 29.6%, as opposed to an EBITDA of Rs. 14.05 crore in Q3 FY23 with an EBITDA margin of 13.4%. This marks a growth of 195.4% YoY.

 The Profit After Tax (PAT) for Q3 FY24 more than tripled over the same quarter last year. PAT stood at Rs 29.79 crore, up 213% YoY compared to Rs 9.52 crore in Q3 FY23.

The PAT Margin has gone up to 21.6% in Q3 FY24, compared to 9.1% in Q3 FY23.

The company’s business in Asia picked up this quarter, contributing 42% to the net revenue, the same as from Europe. This led to a more balanced revenue distribution across region.

The Analgesic and Anesthetic segment led the revenue growth and contributed to 49% of sales in Q3 FY24, compared to 21% in the corresponding quarter last year.

The company has reported significant growth over the nine months of the current quarter. For the first nine months of FY24, the company’s profit has grown 59% to Rs 82.18 crore, as against 51.63 crore reported during the same period last year.

The company has recorded a total revenue of Rs 412.19 crore, 29% higher than last year. EBITDA margin expanded to 28.5% during the nine months in FY24 from 23.2% recorded in the corresponding period last year.

Satish Wagh, Chairman and Managing Director, Supriya Lifescience Ltd, commenting on the results, said, “"With a spectacular 33.2% year-over-year rise in sales to Rs. 140.07 crore, as well as significant increases in Gross Profit and EBITDA, these results demonstrate our dedication to long-term success. Notably, our triple-digit increase in Profit After Tax (PAT) to Rs. 29.79 crore, along with a strong PAT Margin of 21.6%, illustrates our emphasis on operational excellence. Furthermore, our strategic expansion into Asian and European markets, together with the growth of the Analgesic and Anaesthetic category, proves our capacity to embrace opportunities and react to changing market dynamics. Looking ahead, we are committed to advancing innovation and excellence, cementing Supriya Lifescience Ltd.'s position as a trusted leader in API production across several therapeutic categories."

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