On a consolidated basis, the net profit of the pharmaceutical company tumbled 37.1% to Rs 36.69 crore in the Oct-Dec quarter of FY23 as compared with Rs 58.29 crore posted in the Oct-Dec quarter of FY22.

Net sales stood at Rs 663.96 crore in the Oct-Dec quarter of FY23, up 4.6% from Rs 634.80 crore reported in FY22. The profit before tax dropped 36.9% to Rs 49.68 crore in the Oct-Dec quarter of FY23 as against Rs 78.69 crore recorded in FY22. Total expenses were at Rs 615.30 crore in the Oct-Dec quarter of FY23, rising 9.33% year on year (YoY). EBITDA fell 26% YoY to Rs 71.7 crore in the quarter that ended December 31, 2022. EBITDA Margin reduced by 443 basis points to 10.8% compared to 15.2% reported in the Oct-Dec quarter of FY22.

On a standalone basis, the company’s net profit declined 34.3% to Rs 36.71 crore despite a 5.4% rise in revenue to Rs 625.53 crore in the Oct-Dec quarter of FY23 over the Oct-Dec quarter of FY22. Domestic revenue grew approximately 8% while exports grew by around 2% YoY for the Oct-Dec quarter of FY23.

Aarti Drugs is primarily involved in the manufacturing and marketing Active Pharmaceutical Ingredients (APIs), Pharma Intermediates and Specialty Chemicals.

Yesterday, Aarti Drugs’ shares hit a high of 1.10% to close at Rs 410.55 on BSE.