bullish
Zydus Lifesciences (ZYDUSLIF IN): Strong India Momentum; Q3 Net Profit Jumps 27%; Buyback Approved
321 Views12 Feb 2024 09:30
SUMMARY
- Zydus Lifesciences Ltd (ZYDUSLIF IN) reported 16% YoY and 7% QoQ growth in India formulation business revenue in Q3FY24 on the back of healthy volume growth and new product launches.
- Profitability improvement continued, with Q3FY24 improving 200 basis points YoY to 24.5%. Net profit surged 27% YoY.
- The Board approved INR6 billion buyback, representing 0.59% of total outstanding equity shares at a price of INR1005 per share (25% premium to last closing price) via tender offer route.
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Tina Banerjee
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