Shares of Zydus Lifesciences were trading 3% higher on 7 November after the company announced its earnings for the July-September quarter of the current fiscal year.

The pharma major declared a 53.2% year-on-year (YoY) increase in consolidated net profit to Rs 800.7 crore for the quarter from Rs 522.5 crore reported in the year-ago quarter. 

The revenue of the company was Rs 4,368.8 crore during the quarter, which is a 5.6% YoY increase from Rs 4,134.7 crore. 

The company’s EBITDA (earnings before interest, tax, depreciation, and amortisation) was at Rs 1,146.1 crore against Rs 815.3 crore reported in Q2FY23. The EBITDA margin expanded by 580 basis points to 26.2% during the quarter. 

The NELM impacted the business as its branded formulation business in India saw single-digit growth, which was partly affected by a delay in the acute season. The growth was primarily driven on the back of volume expansion and new launches. 

The pharma company has launched 8 new products in the US market during the quarter. It has also filed for 4 ANADs (abbreviated new drug applications while receiving 9 new product approvals from the US regulator during Q2. 

During the quarter, the company spent Rs 322.5 crore on research and development, which is 7.4% of the revenue generated during the quarter. 

At 1:57 pm, the shares of Zydus LifeSciences were trading 1.74% higher at Rs 595 on NSE.