Indoco Remedies declined 1.72% to Rs 314.45 after the pharmaceutical company's standalone net profit declined 61.40% to Rs 12.79 crore in Q2 FY25 as against Rs 33.14 crore recorded in Q2 FY24.
Revenue from operations decreased by 15.18% year on year (YoY) to Rs 394.58 crore in the quarter ended 30 September 2024.Profit before tax in Q2 FY25 was at Rs 17.38 crore, declining 60.52% as against Rs 44.03 crore reported in Q2 FY24.
Total expenses fell 15.59% YoY to Rs 363.35 crore in Q2 FY25. Cost of materials consumed was at Rs 80.38 crore in Q2 FY25 (down 34.53% YoY) and employee benefit expenses stood at Rs 87.30 crore in Q2 FY25 (down 3.02% YoY) during the quarter.
EBIDTA stood at Rs 5.29 crore in the second quarter of FY25, down 26.93% from Rs 7.24 crore posted in Q2 FY24. EBIDTA margin reduced to 13.4% in Q2 FY25 as compared to 15.6% recorded in the same period a year ago.
Aditi Panandikar, MD, Indoco Remedies said, While a good performance by our domestic formulation business helped grow revenues, supply constraints have impacted the performance of the international formulation business. Some of the sites supplying to US and Europe are under structured shutdowns to increase efficiency.
Indoco Remedies is engaged in the manufacturing and marketing of Formulations (finished dosage forms) and active pharmaceutical ingredients (APIs).
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