Morepen Laboratories Limited' Q3 FY24 EBITDA Surges by 151%, Net Profit Records a Remarkable 256% Growth
Feb 03, 2024
PNN
Mumbai (Maharashtra) [India], February 3: Morepen Laboratories Limited (NSE: MOREPENLAB, BSE: 500288), is engaged in the business of manufacturing, producing, developing and marketing a wide range of Active Pharmaceutical Ingredients (APIs), branded and generic formulations and also the Home Health products. The Company reported its unaudited Q3FY24 financial results.
Key Financial Highlights (Consolidated):
Consolidated Key Financial Highlights Q3 FY24:
* Total Income of Rs 448.62 Cr, YoY growth of 28%
* EBITDA of Rs 54.64 Cr, YoY growth of 151%
* EBITDA Margin of 12.18%, YoY growth of 596 Bps
* Net Profit of Rs 31.99 Cr, YoY growth of 256%
* NPM (%) of 7.13%, YoY growth of 456 Bps
* EPS of Rs 0.63, YoY growth of 255.72%
Consolidated Key Financial Highlights 9M FY24:
* Total Income of Rs 1277.09 Cr, YoY growth of 21%
* EBITDA of Rs 119.97 Cr, YoY growth of 79%
* EBITDA Margin of 9.39%, YoY growth of 306 Bps
* Net Profit of Rs 67.88 Cr, YoY growth of 123%
* NPM (%) of 5.32%, YoY growth of 244 Bps
* EPS of Rs 1.33, YoY growth of 121.67%
Q3 & 9M FY24 Performance Insights
Commenting on the performance, Sushil Suri - Joint Managing Director of Morepen Laboratories Limited said, "In the backdrop of a steadily growing pharmaceutical market, our products are experiencing robust demand. Through a dedicated focus on cost control measures, we have achieved an impressive 151% increase in EBITDA and a remarkable 256% rise in net profit. As we maintain a resilient presence both in the Indian and international markets, we are optimistic about future growth opportunities.
Our success is rooted in continuous product development initiatives and a deliberate expansion strategy in international markets. Noteworthy accomplishments include advancements in intellectual property, the successful development of new APIs, and strategic capacity expansions. These initiatives reflect our unwavering commitment to innovation and growth, solidifying Morepen Laboratories as a key player in the dynamic pharmaceutical industry."
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