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Indegene Achieves Revenue of INR 6,868 Million in Q2FY25

Indegene Achieves Revenue of INR 6,868 Million in Q2FY25

Indegene has published its financial results for the quarter ended September 30, 2024.

In the second quarter of the financial year 2025, Indegene achieved revenue from operations totaling INR 6,868 million, marking an 8.0 percent Year-over-Year (YoY) growth compared to the same period in the previous year.

The revenue from operations, when converted to USD, stands at USD 82.0 million for the quarter ending September 30, 2024. This is a slight increase from USD 81.1 million in the previous quarter ending June 30, 2024, and up from USD 76.9 million in the quarter ending September 30, 2023.

The YoY revenue growth rate from operations for this quarter is 8.0 percent, which is lower than the 17.3 percent growth observed in the same quarter last year but slightly lower than the 11.4 percent growth recorded in the previous quarter.

The company's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for the quarter ending September 30, 2024, stands at INR 1,267 million, which is a decrease from INR 1,328 million in the previous quarter but an increase compared to INR 1,224 million in the same quarter of the previous year. The EBITDA margin for this quarter is recorded at 18.4 percent, down from 19.6 percent in the previous quarter and slightly below the 19.2 percent margin from the corresponding quarter last year.

Profit after tax for the quarter ending September 30, 2024, amounts to INR 917 million, showing an increase from INR 877 million in the previous quarter and a significant rise from INR 750 million in the same quarter last year. This improvement has resulted in a profit margin of 13.4 percent, compared to 13.0 percent in the previous quarter and 11.8 percent in the same period last year.

The company's improved PAT margin of 13.4 percent is attributed to better capacity management, increased automation, and reduced debt servicing costs.

“In Q2FY25, we achieved revenue growth of 8.0 percent YoY. The growth is largely driven by positive momentum in both big and mid-size pharma customers. Our largest customer, which was approximately USD 42 million in revenue last year, continues to grow. Further, the revenue from our Top 5 accounts have grown 2.3 percent sequentially,” said Manish Gupta, Chairman and CEO, Indegene.

“Our earnings growth in Q2FY25 continues with EPS increasing by 13 percent YoY and PAT growing from INR 750 million in Q2FY24 to INR 917 million in Q2FY25. Our focus on productivity improvement through better capacity management and automation has partially offset the impact of the annual wage hike which is effective July 2024. This combined with the zero-debt servicing cost helped in improving the PAT margin to 13.4 percent for the quarter. Further our return on equity post the IPO continues to be in early 20s, at a healthy 21 percent and return on capital employed net of cash continues to be around 48 percent,” said Suhas Prabhu, CFO, Indegene.

More news about: global pharma | Published by Aishwarya | October - 29 - 2024

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