Eris Lifesciences consolidated Q4 PBT up 5.9% at Rs 62 cr, income rises 9%

Full-year pre-tax profit up 4.46% at Rs 331.52 cr

Drug maker Eris Lifesciences Ltd has registered a 5.88 per cent growth in its consolidated profit before tax (PBT) at Rs 61.67 crore for the quarter ended March 31, 2020 as against Rs 58.24 crore in the corresponding period last year.

The company's consolidated total income in Q4 of FY20 increased by 9.3 per cent to stand at Rs 247.81 crore, as compared to Rs 226.55 crore in Q4 of FY19. Consolidated PBT for the full financial year 2019-20 rose by 4.46 per cent to Rs 331.52 crore from Rs 317.36 crore in FY 2018-19. On the other hand, its consolidated total income for the full fiscal year 2019-20 increased by 7.48 per cent to stand at Rs 1089.76 crore as compared to Rs 1013.85 crore in FY'19.

In the fourth quarter of FY20, while the company's overall sales grew by 14.3 per cent year-on-year (YoY) as against a 9.7 per cent growth clocked by the Indian Pharmaceutical Market (IPM), its chronic and sub-chronic therapies' sales grew by 19.6 per cent and 13.4 per cent YoY as against 12.1 per cent and 7.3 per cent growth by IPM, respectively. 

However, the company's acute therapies shrank by five per cent as against an 8.8 per cent growth by IPM, though distinct strategic business unit (SBU) for acute business has been created to bring sharper focus on acute therapies, Eris Lifesciences stated in its investor presentation.

In the fourth quarter of FY20, the company had announced and paid an interim dividend of Rs 2.87 per share, apart from completing buyback of shares worth Rs 100 crore.

For the full financial year 2019-20, Eris' overall sales grew by 11 per cent as against a 9.8 per cent growth by IPM. Category-wise, the company's chronic and sub-chronic therapies' sales grew by 14.8 per cent and 9.9 per cent as compared to 10.8 per cent and 8.2 per cent YoY growth clocked by IPM, respectively. Again, the company's acute therapies degrew by 2.1 per cent as against a 9.7 per cent growth by IPM in FY'20.

Meanwhile, FY20 also saw Eris Lifesciences enter the Vildagliptin market, a prime molecule in diabetes care that went off patent, by launching Zomelis brand acquired from Novartis.