bullish
Concord Biotech Ltd (658823Z IN): Q2 EBITDA and PAT Triples on Operational Efficiencies
Tina has highlighted this Insight as a Top Pick
476 Views01 Dec 2023 19:25
SUMMARY
- Concord Biotech Ltd (658823Z IN) reported robust performance in Q2FY24. Revenue grew 65% YoY to INR2.6 billion, while EBITDA and PAT jumped more than 3x compared to year-ago quarter.
- The company has increased capacity utilization at all the three manufacturing facilities. Operational efficiencies have helped the bottom line to achieve faster growth than the top line.
- With a high runway for growth and improving market scenario, especially for Indian pharma companies, the company remains highly optimistic to surpass its historical 18% revenue CAGR this year.
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Rising
Tina Banerjee
Global Healthcare Analyst
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