New Delhi: Zydus Lifesciences Ltd on Thursday reported a 25.36 per cent decline in consolidated internet revenue at Rs 296.6 crore within the fourth quarter ended March 31, 2023 impacted by impairment of goodwill of a wholly-owned subsidiary.
The corporate, which had posted a consolidated internet revenue of Rs 397.4 crore in the identical quarter of the earlier fiscal, mentioned its board has advisable a last dividend of Rs 6 per fairness share of Re 1 every, topic to approval of shareholders on the Annual Common Assembly scheduled to be held on August 11, 2023.
Consolidated whole income from operations stood at Rs 5,010.6 crore, as in opposition to Rs 3,805.6 crore within the corresponding interval a yr in the past, Zydus Lifesciences mentioned in a regulatory submitting. Complete bills have been larger at Rs 3,961.3 crore, as in comparison with Rs 3,311.8 crore within the year-ago quarter.
Throughout the quarter, Zydus Lifesciences mentioned it incurred an distinctive merchandise of Rs 594.1 crore as impairment of goodwill by Sentynl Therapeutics Inc, a wholly-owned subsidiary of the group.
Furthermore, it additionally incurred Rs 7.2 crore in reference to the cessation of the operations of one of many manufacturing services of Zydus Wellness Merchandise Ltd, a subsidiary of the group, the submitting mentioned.
For the fiscal ended March 31, 2023, consolidated internet revenue stood at Rs 1,960.3 crore, as in opposition to Rs 4,487.3 crore within the earlier fiscal. In FY23 consolidated whole income from operations stood at Rs 17,237.4 crore, as in comparison with Rs 15,109.9 crore in FY22.
Zydus Lifesciences Managing Director Sharvil Patel mentioned the corporate maintained progress momentum throughout all key companies all year long, ending the fiscal yr on a robust observe with regular enchancment in profitability and stability sheet well being.
On the outlook, he mentioned, “We’re effectively poised to keep up progress momentum, with India geography more likely to maintain double-digit progress, the US enterprise persevering with to leverage our sturdy product pipeline and agile provide chain and scale-up of our rising market enterprise.”