Revenue from operations increased 1.4% YoY to Rs 244.22 crore in Q3 FY25.
Profit before tax (PBT) fell 1.9% YoY to Rs 101.15 crore during the quarter.
EBITDA stood at Rs 98 crore, registering de-growth of 8% as compared with Rs 105.9 crore posted in corresponding quarter last year. EBITDA margin reduced by 390 bps to 40.1% in Q3 FY25 as against 44% in Q3 FY24.
Revenue from active pharmaceutical ingredients (API) increased 3% to Rs 176.6 crore while revenue from formulation declined 1% to Rs 67.6 crore in Q3 FY25 over Q3 FY24.
In Q3 FY25, API business contributes 72% to the total revenue, while formulation business accounted for 28%.
Ankur Vaid, Joint managing director & chief executive officer, Concord Biotech, said, “Revenue for Q3FY25 stood at Rs 244 crore as, a growth of 1% on a Y-o-Y basis. Our EBIDTA margins stood at 40.1%.Our Profit after tax stood at Rs 75.9 crore in Q3FY25.
Revenues from API segment grew at 3% over the same period last year, the growth was impacted on account of lumpiness in the procurement pattern of customers and some spill over of revenue to the following quarter. We remain optimistic of our growth in both API & Formulation segment on the back of new product addition, customer addition and incremental wallet share gain from existing customers.
We remain optimistic about achieving our long-term target of a 25% CAGR over the next five years. Additionally, we are actively exploring CDMO/CMO opportunities with customers worldwide. Given Concord's capabilities and capacities, we are confident in seizing this opportunity sooner rather than later, which will further accelerate our growth trajectory.”
Concord Biotech is an India-based R&D-driven biopharma company. The company is ranked among the leading global developers and manufacturers of select fermentation-based active pharmaceutical ingredients (API) across immunosuppressants and oncology in terms of market share, based on volume in 2022.