Supriya Lifescience Ltd has reported the Profit After Tax (PAT) for Q2 FY24 at Rs. 23.88 crore, compared to Rs. 16.86 crore in Q2 FY23, exhibiting a growth of 42%. PAT Margin has gone up to 17% in Q2FY24 compared to 15% in Q2 FY23. Q2 FY24 revenue increase 25% in Q2 FY24 to Rs. 140.09 crore.

The outstanding performance in this quarter was led by a robust growth in European market that contributed 44% to the Q2FY24 Revenue.

Europe accounted for 39% of the company's revenue in H1FY24, marking a significant increase from the 24% recorded in H1FY23.

Satish Wagh, Chairman and Managing Director, Supriya Lifescience Ltd, commenting on the results, said, “At Supriya, we believe that accessible, affordable and effective healthcare is a fundamental human right, and to this effect, especially in a country like ours, I’m pleased to announce that lately the company has signed two agreements with Kalinga Institute of Technology for the development of a one-of-its-kind novel oral cancer detection kit named Quickblue and a wound healing gel named GelHeal. As the company continues to introduce such versatile products that cater to unmet medical demands, led by a strong thrust in its R&D capabilities, we believe more and more of such products will establish Supriya Lifescience Ltd. as an integrated healthcare provider.”

GelHeal, a protein-based crosslinked hydrogel, is a gel-based lotion that was developed specifically for in-situ scaffolding, providing mechanical support to deep wounds and facilitating scar-free skin regeneration. Quickblue, an oral cancer diagnosis kit, allows patients to discover cancer cells in minutes, which is a considerable advance over current traditional approaches such as biopsy.

Wagh further added, “The Company is committed to building a pipeline of new products, which could extend it beyond its longstanding competence in the area of antihistamines and towards antidiabetics and other areas. Additionally, the company plans to patent new technologies and initiate projects for the Contract Development Manufacturing Organisation (CDMO) business, leading to potential long-term revenue growth.”