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Pharmaceutical company Eris Lifesciences posted a 25.8 per cent year-on-year (Y-o-Y) decline in its consolidated profit after tax (PAT; attributable to owners of the company) at Rs 91.59 crore for the July-September quarter (Q2) of 2024-25 (FY25), while revenue from operations grew by 46.68 per cent during the period to Rs 741.17 crore.
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. Additionally, finance and depreciation expenses rose 140 per cent Y-o-Y, from a combined Rs 58.4 crore in the year-ago period to Rs 140 crore in Q2 FY25.
Sequentially, revenue from operations grew by 10.11 per cent, while PAT grew by 2.98 per cent. Ebitda (earnings before interest, tax, depreciation, and amortisation) rose by 45 per cent Y-o-Y, reaching Rs 269 crore.
Commenting on the performance, Amit Bakshi, chairman and managing director of Eris Lifesciences, said, “We are on track to achieve our revenue guidance of Rs 2,600 crore in Domestic Formulations and Rs 3,000 crore on a consolidated basis. 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, from product development and bulk manufacturing to dosage form manufacturing and marketing,” Bakshi added.
In this quarter, the domestic branded formulations segment achieved a revenue growth of 31 per cent Y-o-Y, while the branded formulations’ yield per month (YPM) rose to Rs 5.7 lakh in Q2 FY25 from Rs 5.1 lakh in Q2 FY24, reflecting a 12 per cent growth.
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The company also launched "Erly," its Liraglutide brand in the GLP-1 segment, in September 2024 and entered a strategic partnership with Levim Lifetech, enhancing its capabilities in the biotech sector.
The stock rose by 0.85 per cent to Rs 1,293.20 apiece on the BSE. The results were announced during market hours on Friday.
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