Indegene declined 4.23% to Rs 505.50 after the company's consolidated net profit fell 3.9% to Rs 94.9 crore in Q4 FY24 as compared with Rs 98.8 crore in Q3 FY24.
Revenue from operations fell marginally to Rs 673 crore in Q4 FY24 from Rs 673.4 crore in Q3 FY24.Year on year basis, the companys net profit and revenue jumped 94.6% and 6.5% as compared with Q4 FY23.
Profit before tax jumped 68.7% YoY to Rs 133 crore in Q4 FY24.
EBITDA stood at Rs 164.3 crore in Q4 FY24, up 48.7% as compared with Rs 110.5 crore in Q4 FY23.
In dollar terms, the firm reported revenues of $81.1 million (up 0.25% QoQ and up 5.19% YoY) for the quarter ended 31 March 2024.
Total number of active clients stood at 63 as on 31 March 2024 as compared with 62 clients as on 31 March 2023. Total employees were 5,081 as on 31 March 2024 as compared with 5,431 as on 31 March 2024.
More From This Section
Last twelve months IT services attrition rate slipped to 15.7% as of 31 March 2024 as compared with 22.2% as on 31 March 2023.
Manish Gupta, chairman and chief executive officer, said, Our revenues closely mirrors global life sciences industrys spends on operations. 69% of our revenues come from top 20 pharma companies. Global life sciences industry is more than $ 1.8 trillion industry. We are excited about the opportunity in front of us.
Suhas Prabhu, chief financial officer, said, Our financial result reflect our focus on operational excellence , cost optimization and value-driven services delivery. While revenue grew steadily, we delivered strong growth in margins wth healthy cash conversion and strong balance sheet providing us with flexibility to invest in growth opportunities. We remain committed to delivering value to our clients and shareholders through deep domain expertise, innovation and operational excellence.
The counter entered into stock market on 13 May 2024. The scrip was listed at Rs 566.70, representing a premium of 23.16% as compared with the issue price of Rs 452.
Indegene provides digital-led commercialization services for the life sciences industry, including biopharmaceutical, emerging biotech, and medical devices companies. The company assists in drug development, clinical trials, regulatory submissions, pharmacovigilance, complaints management, and sales and marketing.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
