Zydus Life shares gain 5% as Q3 results beat estimates; Revenue, EBITDA up around 30% each

(Photo Credit :

CNBC-TV18 Library

)

Shares of Zydus Lifesciences gained over 4% on Monday, February 9, after the company reported its third quarter earnings.

Zydus Life's December quarter results beat estimates across parameters.

The company's net profit of ₹1,042 crore was higher than Street estimates of ₹940 crore. It was up 2% from the previous year's ₹1,023.5 crore.

The company's revenue increased 30.3% to ₹6,865 crore from ₹5,269 crore in the third quarter of the previous fiscal. It was also above CNBC-TV18 poll's ₹6,294.3 crore.

Zydus Life's earnings before interest, tax, depreciation and amortisation (EBITDA) increased 31% to ₹1,817 crore from ₹1,388 crore in the previous year. It was also higher than Street expectations of ₹1,516 crore.

Its margin expanded to 26.5% from 26.3% in the year-ago period and from CNBC-TV18 poll's 24%.

The company reported forex gain of ₹164 crore compared to ₹183 crore in the previous year.

Zydus Life shares gained 5% to hit an intraday high of ₹933.35 apiece on Monday. The stock was up 3.6% at ₹920.1 apiece around 1.35 pm. It has gained 2.9% in the past month.

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