Eris Lifesciences

The decline in PAT can be partly attributed to the deferred tax credit of Rs 21 crore, which the company received in the year-ago quarter

Eris Lifesciences on Friday said its consolidated profit after tax declined 20 per cent year-on-year to Rs 97 crore in the September quarter. The drug firm had reported a Profit After Tax (PAT) of Rs 122 crore in the July-September period of last fiscal. Revenue increased to Rs 741 crore in the second quarter compared to Rs 505 crore in the year-ago period, the company said in a statement. "The acquired businesses of Biocon and Swiss Parenterals have been integrated and are scaling up in line with our expectations," Eris Lifesciences Chairman and Managing Director Amit Bakshi said. The company is on track to achieve revenue guidance of Rs 2,600 crore in domestic formulations and Rs 3,000 crore on a consolidated basis, he added. "We continue building up our capabilities in the biologics segment. With a strategic investment in Levim Lifetech, we will become a vertically integrated Biotech player with capabilities across the value chain," Bakshi said. Shares of the company settled 0

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Private equity major ChrysCapital on Thursday exited Eris Lifesciences by selling its entire 7.27 per cent stake in the company for Rs 1,187 crore via open market transaction, while Infinity Partners picked up shares of the firm. Eris Lifesciences Ltd is a listed Indian pharmaceutical company and a leading player in the domestic branded formulations market. According to the block deal data available on the National Stock Exchange (NSE), ChrysCapital through its affiliate Emerald Investment Ltd sold 98,86,882 shares, amounting to a 7.27 per cent stake in Ahmedabad-based Eris Lifesciences. The shares were disposed of at an average price of Rs 1,201 apiece, taking the transaction value to Rs 1,187.41 crore. These shares were picked up by Infinity Partners at the same price, as per the data on the exchange. Shares of Eris Lifesciences rose 2.13 per cent to close at Rs 1,238.65 apiece on the NSE. Earlier this month, Eris Lifesciences said its consolidated profit after tax declined by

Total revenue stood at Rs 4,567 crore in Q1 FY25 as against Rs 3,516 crore in Q1 FY24

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On a sequential basis, the company exhibited a 13.2 per cent increase in revenue; however, the PAT declined by 30.96 per cent

Shares of Biocon slipped 5 per cent to Rs 254.15 on the BSE in Friday's intra-day trade as the company's unit Biocon Biologics will sell its Indian branded formulations businesses to Eris Lifesciences

The deal would enable Eris' entry into the Rs 3k cr injectables market, and it would become one of major players in the insulins segment with the acquisition of Biocon Biologic's Basalog and Insugen

Biocon had earlier sold its dermatology and nephrology branded formulation businesses to Eris for Rs 350 crore in November last year

On a sequential basis, the company saw a 3.40 per cent decline in revenue along with Profit After Tax (PAT), which also declined by 16.77 per cent

The deal consideration is Rs 366 crore inclusive of working capital, and will be funded partly through debt financing

The business includes over 20 mother brands with revenue of Rs 90 crore in FY23 and the current run-rate is around Rs 100 crore

On a sequential basis, the company exhibited an 8.29 per cent increase in revenue, along with a PAT which rose 30.17 per cent

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Eris Life said that the transaction would help augment and expand cosmetic dermatology business of the company through their product offerings

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In January Eris had bought some derma brands from Glenmark Pharma as well

Eris and Dr. Reddy's did not immediately respond to Reuters' requests seeking the names of the dermatology brands

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