Zydus Lifesciences Sees 31% Profit Surge in Q1 FY24

Zydus Lifesciences reported a 31% increase in consolidated net profit for Q1 FY24, reaching Rs 1,420 crore. The growth was driven by robust sales, with revenues up to Rs 6,207 crore. India and US markets performed well. Shares rose 1.91% on the BSE.

Zydus Lifesciences saw a significant increase in consolidated net profit by 31% year-on-year for the first quarter ending June 2024, recording Rs 1,420 crore. This surge was fueled by strong sales performance.

Compared to the previous year’s Rs 1,087 crore, the drug maker's revenue from operations escalated to Rs 6,207 crore, up from Rs 5,140 crore in the corresponding quarter of FY24.

According to Managing Director Sharvil Patel, sustained growth across various business sectors and enhanced profitability were key drivers behind this strong quarterly performance. Exceptional execution in the US market and robust business in India were particularly notable.