Morepen Laboratories Announces Stellar Q1 FY25 Financial Performance

Morepen Laboratories Limited, a key player in the Medical Devices and Pharmaceutical sectors, announced a remarkable financial performance for Q1 FY2025. The company reported a 14% increase in net revenue and a 147% surge in profit after tax. This follows a successful Rs. 200 crore fundraise via Qualified Institutional Placements (QIP).

Gurugram (Haryana), August 12, 2024: Morepen Laboratories Limited (NSE: MOREPENLAB, BSE: 500288), a key player in the Medical Devices and Pharmaceutical industries, has reported an impressive financial performance for Q1 FY2025. The net revenue increased by 14% to ₹458.64 crore, while EBITDA nearly doubled, rising 93% to ₹55.05 crore compared to the same quarter last year. Profit After Tax (PAT) surged 147% to ₹36.17 crore.

This announcement comes just a week after Morepen successfully raised Rs. 200 crore through Qualified Institutional Placements (QIP), which was oversubscribed by 1.68 times. High-caliber global investors like Bank of America Securities Europe, Samsung India, Citigroup, and others, participated in the QIP. Mr. Sushil Suri, Chairman and Managing Director, highlighted that this strategic fundraise marks a pivotal point in the company's growth journey, focusing on its two growth engines – Medical Devices & Pharma.

The Medical Devices segment achieved a revenue of Rs. 138 crore, a 20% year-on-year growth, driven primarily by Blood Glucometers and BP Monitors. The Pharmaceuticals segment registered a revenue of Rs. 320 crores, representing a 11% year-on-year growth. Morepen aims to increase focus on research, innovation, and cost reduction for stronger global market positioning.

(With inputs from agencies.)