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Business News/ Companies / Company Results/  Aarti Drugs Q1 Results: Net profit surges 39% YoY to 48 crore
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Aarti Drugs Q1 Results: Net profit surges 39% YoY to ₹48 crore

The revenue of the company also witnessed a growth of 6 percent from ₹622.2 crore to ₹661.7 crore during on a Year-on-Year basis.

EBITDA stood at ₹84.7 crores as against ₹67.4 crores YoY.Premium
EBITDA stood at 84.7 crores as against 67.4 crores YoY.

Aarti Drugs Limited released its Q1 results on Friday and reported a 38.8% (YoY) surge in the net consolidated profits from 34.8 crore to 48 crore, it said in a stock regulatory filing.

The revenue of the company also witnessed a growth of 6 percent from 622.2 crore to 661.7 crore on a Year-on-Year basis. Also, EBITDA stood at 84.7 crores as against 67.4 crores YoY.

Among other things, the firm said that the board of directors of the company has approved buyback not exceeding 6,65,000 fully paid-up equity shares for 900 per equity share, payable in cash for an aggregate amount of up to 59.85 crores.

Commenting on the same, Mr. Adhish Patil, CFO & COO, of Aarti Drugs Limited said, “The company posted revenue growth of ~6.3% YoY in Q1FY24, which was primarily driven by good volume growth getting partially set off by the downward rate variance. Growth in API business was led by volume growth of 18% driven by domestic market demand uplift. The company expects improved margin levels each quarter from now onwards as the input price is seen to be stabilized, which is also witnessed in our Q1 FY24 margin performance, though there might be a few products specific instances where raw materials are still showing a downward trend. Moreover, exports have been a laggard for API this quarter due to $ shortages for some of the export geographies."

"Formulation segment revenue stood at 90 crores for the quarter, a growth of 6% YoY. The formulation segment contributed ~14% to the consolidated revenue for the quarter. Exports continued to remain a key focus area for the formulation segment. ~67% of the formulation revenue came from exports during the quarter led by new business gains, he added.

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Saurav Mukherjee
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Published: 21 Jul 2023, 10:33 PM IST
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